Tinexta Acquisition, Valuation & Financials

Tinexta was acquired by Nextalia and Advent International for $809M in December 2025, a 1.5x multiple on $529M of revenue.

Tinexta acquisition price

$809M

Acquired by Nextalia, Advent International · Dec 2025

Tinexta revenue at acquisition

$529M

Last twelve months · Dec 2025

Tinexta revenue multiple at acquisition

1.5x

EV/Revenue · Dec 2025

Tinexta EBITDA multiple at acquisition

6.1x

EV/EBITDA · Dec 2025

Tinexta Overview

About Tinexta

Tinexta is an Italian group that supplies digital trust, cybersecurity and business innovation services, with headquarters in Rome. It was founded in 2009 and listed on the Euronext STAR Milan segment from 2016. The group operates in 12 countries with more than 3,000 employees, and it has grown through organic growth and acquisitions. For 2024 it reported revenues of EUR 455.0 million and adjusted EBITDA of EUR 110.8 million. Its Business Innovation division includes the subsidiary Warrant Hub, which advises companies on subsidised finance and innovation projects. In 2025 Advent International and Nextalia bought the stake of Tecno Holding, and in 2026 their vehicle Zinc BidCo took the company to over 88% through a tender offer ahead of a delisting.


Founded

2009

HQ

ItalyRome

Status

Acquired

Customer focus

B2B

Revenue model

Services

Revenue

$529M (Dec 2025)

Valuation

$809M (acquired Dec 2025)

Tinexta Acquisition

Tinexta was acquired by Nextalia and Advent International for $809M on 30 December 2025.

The acquisition price implies a 1.5x revenue and 6.1x EBITDA multiple on $529M of revenue.

Advent International and Nextalia, acting through private equity funds they manage, completed the acquisition of a 38.74% stake in Tinexta from its majority shareholder Tecno Holding on 30 December 2025, after announcing binding agreements on 5 August 2025. The sponsors paid EUR 15 per share and said they would launch, acting in concert with Tecno Holding, a mandatory tender offer at the same price with the aim of delisting Tinexta from Euronext STAR Milan. Nextalia invested through its Nextalia Private Equity and Nextalia Flexible Capital funds. Nextalia chief executive Francesco Canzonieri called the transaction transformational for Tinexta and a chance to unlock significant value, while Tecno Holding said the group was ready for a further step in growth and market consolidation. Tinexta is an Italian digital transformation group with Digital Trust, Cybersecurity and Business Innovation divisions, more than 3,000 employees in 12 countries and revenues above EUR 450 million in 2024.

Tinexta acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
  • Nextalia
  • Advent International
30 Dec 2025PE buyout$809M1.5x6.1x

Sources: nextalia.com, adventinternational.com, adventinternational.com, financecommunity.it

Tinexta as a Public Company

Tinexta traded as MIL: TNXT before it was taken private. Its acquisition was announced in December 2025. September 2026 is its last month on record as a listed company, with a market cap of $796M and an enterprise value of $1B.

Over the 4 years before that, its market cap fell from $860M in September 2022 to $796M.

Tinexta market cap while listed

Tinexta EV/Revenue (LTM) while listed

Tinexta financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Sep 2026$796M-----
Sep 2025$803M$571M$141M25%2.0x8.0x
Sep 2024$608M$502M$128M26%1.3x5.1x
Sep 2023$745M$419M$106M25%1.4x5.6x
Sep 2022$860M$383M$100M26%2.8x10.6x

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Tinexta traded.

Acquisitions by Tinexta

Tinexta has acquired 2 companies to date.

Last acquisition by Tinexta was on January 18th 2022. Tinexta acquired Evalue Innovation for $34M.


Latest Acquisitions by Tinexta

Evalue Innovation
Assicom
Description
Evalue Innovation is a Spanish consultancy that helps companies obtain tax incentives for research and development and technological innovation projects, and also advises on national and European concessional finance. It has offices in Valencia, Madrid, Barcelona, Seville and Murcia and a presence across Spain through business branches. In 2020 it reported revenues of EUR 8.5 million, up 17.6% on 2019, and EBITDA of EUR 4.3 million, a margin of around 50%. Tinexta bought 70% through its subsidiary Warrant Hub in 2022, and the founders kept 30% under put and call options and stayed on as managers. The company has more than a hundred employees.
Assicom is a credit management firm offering business information services in Italy and abroad. It conducts screening, credit reports, tracing, inquiries, and property searches from official databases. Milan-based Assicom supports collections and risk assessment for corporate clients.
HQ CountrySpainItaly
HQ City
Valencia
Udine
Deal Date18 Jan 202226 Nov 2014
Valuation$34M$96M
EV/Revenue
EV/EBITDA

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Tinexta Competitors

Tinexta competitors include listed companies like CANCOM and Baudroie, and private ones like BlueVoyant, Defense Unicorns, Novaigu and SpecterOps.

Public and private companies comparable to Tinexta
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CANCOMGermanyGermanyPublicly listed$2B$115M$662M0.3x
BlueVoyantUnited StatesNew York City, NYPrivate--$1B-
Defense UnicornsUnited StatesColorado Springs, COPrivate$30M-$1B33.3x
BaudroieJapanJapanPublicly listed$110M$23M$580M4.1x
NovaiguUnited StatesNewark, NJPrivate--$500M-
SpecterOpsUnited StatesWashington, DCPrivate--$435M-

Tinexta Public Comps

Tinexta is no longer listed, but its public comps include AXISCADES Technologies, Beyondsoft, Global Security Experts, transcosmos, OneSpan, GFT Technologies, SNP Group, Tata Teleservices, Mitek Systems and Quest Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AXISCADES Technologies$123M$19M6.9x6.3x43.7x36.6x
Beyondsoft$1B$33M0.6x0.6x17.6x-
Global Security Experts$70M$14M11.4x9.8x54.9x-
transcosmos$2.5B$152M0.2x0.2x3.2x-
OneSpan$243M$57M3.1x3.0x13.2x10.1x
GFT Technologies$996M$78M0.9x0.9x11.6x9.8x
SNP Group$333M$64M2.3x-12.2x-
Tata Teleservices$122M$66M23.9x-44.2x-

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Common questions about Tinexta

When was Tinexta founded?Tinexta was founded in 2009.
Where is Tinexta headquartered?Tinexta is headquartered in Rome, Italy.
Is Tinexta publicly listed?No, Tinexta was acquired by Nextalia and Advent International in December 2025.
Who acquired Tinexta?Tinexta was acquired by Nextalia and Advent International in December 2025.
How much was Tinexta acquired for?Tinexta was acquired for $809M in December 2025, a 1.5x revenue multiple.
Which companies are comparable to Tinexta?Companies comparable to Tinexta include CANCOM, BlueVoyant, Defense Unicorns, Baudroie, Novaigu and SpecterOps.
What was Tinexta's market cap before the acquisition?Tinexta had a market cap of $796M in September 2026, its last month on record as a listed company.
How many companies has Tinexta acquired?Tinexta has acquired 2 companies, including Evalue Innovation and Assicom.
What was the largest acquisition by Tinexta?The $96M acquisition of Assicom in November 2014 is the largest acquisition Tinexta has made to date.

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