April 26, 2018
FII Tech Growth, a fund managed by Fondo Italiano d’Investimento SGR, announces its second investment in SECO SpA, one of the European leaders in the embedded electronics market.
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SECO, headquartered in Arezzo, Tuscany, with subsidiaries in the U.S.A., Germany and Taiwan, was founded in 1979 by entrepreneurs Daniele Conti and Luciano Secciani. The company designs and manufactures micro-computers and integrated systems for industrial applications. With more than 250 employees, SECO supports customers with a worldwide presence such as Cimbali, Esaote, Technogym and Vimar, and generated revenue in excess of Euro 50 million in 2017.
The ability to offer innovative solutions by using cutting-edge technologies has allowed SECO to grow steadily over time. The company developed a network of collaborations with universities and research centres La Sapienza, the National University of Singapore, Politecnico di Milano, University of San Diego, INFN, ESIEE Paris, Politecnico di Torino, CERN, Carnegie Mellon University and Barcelona Supercomputing Centre.
In 2013, SECO launched UDOO, an open source single board micro-computer designed for several markets: education, the world of Makers and Internet of Things. Today, UDOO has a worldwide community of more than 100.000 developers that use it on a regular basis constantly update its platform and development tools.
The transaction is a capital increase of Euro 10 million entirely provided by FII Tech Growth, which will be used to accelerate the company international expansion and to support the M&A strategy. Massimo Mauri, former Executive Vice President of listed Eurotech, who has worked on the transaction on behalf of the company and its shareholders, will join the group’s Board of Directors with an executive role to support the company’s growth.
SECO is one of the European leaders in the high value embedded electronics market. Since 1979 the company designs and manufactures single board micro-computers and integrated "ready to use" systems. SECO’s products have applications in numerous sectors, ranging from industrial automation to the field of medicine, wellness, automotive, transport, telecommunications and infotainment.
The company is also one of the founders of the international micro-computer standard Qseven®. Its technology partners are the most advanced high-tech companies in the world such as Intel®, Microsoft®, Google®, AMD®, NXP®, NVIDIA® and Qualcomm®.