Sitti SpA, a Vimodrone (MI), Italy-based developer of integrated communication systems for air traffic control and control room management, has received a €5m equity investment from Atlante Private Equity.
With the transaction, Atlante has acquired (from minority shareholder Gemina) a 40% stake in the company.
The investment will help Sitti expand into new markets. The company currently operates in Italia, Brazil, Ukraine, Turkey, China and Malaysia.
Founded in 1946, Sitti produces integrated communication systems, which are considered as the industry benchmarks in digital signal processing and voice/data integration.
The company today employs 95 people and has an estimated turnover of €25m for 2010. Shareholders include Paolo and Gianpietro Crovato, Giorgio Donnini and Mario Scovenna, who totally own 60% of the shares.