Icona Technology SpA: Icona Technology S.p.A. partners with Xplo S.r.l. in open innovation agreement

to scale "Servicely for Service Hub" on the market

Cinisello Balsamo (MI) (pta022/20.12.2023/12:56 UTC+1)

Cinisello Balsamo, December 20, 2023. Icona Technology S.p.A. ("Icona Technology") (ISIN IT0005465528 – ticker: CARE), an international scale-up aimed at catalysing the digital evolution of after-sales services, announces that Icona S.r.l., the fully owned operating company, has signed an agreement with Xplo S.r.l. - a startup focused on developing industrial solutions based on immersive Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR) and web 3D technologies - to scale "Servicely for Service Hub" on the market.

Servicely is a 3D e-commerce software solution for the sale of spare parts. It is a web application to generate 3D parts catalogs and enable the sale of parts through an e-commerce system.
Servicely's technology dramatically reduces the time required to generate parts information through the use of 3D CAD design data. By leveraging machine and product designs in 3D to visualize parts, there is no need to manually generate time-consuming 2D exploded drawings or other graphical representations. 3D CAD files are converted, simplified and compressed in order to obtain a new 3D format that is extremely lightweight and free of sensitive information. The final weight of the visualization file is reduced by as much as 50 times compared to the size of the original CAD file. This technology has been integrated into Service Hub, the web portal created by Icona allowing effective oversight of service activities, through a dedicated edition called "Servicely for Service Hub". The alliance has already achieved initial market traction, marked by the acquisition of early leads and the successful completion of the inaugural enterprise sale for this new product.

The partnership between Icona Technology S.p.A. and Xplo S.r.l. is a prime example of the power of open innovation, especially for small and medium-sized enterprises (SMEs). Open innovation, a concept where companies collaborate with external entities to harness their knowledge, technology, and creativity, offers several benefits to SMEs. Firstly, it allows these companies to access a wider pool of expertise and resources, which can be particularly beneficial for businesses with limited in-house capabilities. This approach fosters a culture of collaboration and knowledge-sharing, leading to more innovative and effective solutions. Moreover, open innovation can significantly speed up the development process, as SMEs can leverage the specialized skills and technologies of their partners.

Giorgio Nepa, President of Icona Technology, emphasizes this advantage: "Through our open innovation partnership with Xplo S.r.l., led by the founders Simone Sotgiu and Matteo Vavassori, we're not just combining our technological prowess but also creating a synergy that accelerates our growth and innovation. Simone and Matteo bring unique insights and a dynamic approach to this partnership. This collaboration is a testament to the power of open innovation in bringing together diverse expertise to create something potentially groundbreaking for the market. Their dedication and innovative spirit are instrumental in driving this joint venture forward. Such collaborations are especially crucial in the tech industry, where the pace of change is rapid, and staying ahead of the curve is vital for success. Icona Technology's agreement with Xplo S.r.l. to launch 'Servicely for Service Hub' exemplifies how open innovation can be a strategic tool for SMEs to enhance their competitiveness and market relevance."

Simone Sotgiu, CEO of Xplo, comments: "With Giorgio Nepa and Icona Technology, we share values, vision and business strategy. I believe this is a crucial aspect of building common and positive business growth. The partnership with Icona enables Xplo to pursue ambitious growth goals and to respond on a larger scale to innovation needs in new markets and countries as well. The integration of Servicely into Icona's ServiceHub platform creates a unique value proposition and enables us to respond to market complexity with cutting-edge technology and expertise."

This press release is available in the Investor Relations section at www.iconatech.com.

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Emitter:	Icona Technology SpA Viale Brianza 20 20092 Cinisello Balsamo (MI) Italy
Contact Person:	Giorgio Nepa
Phone:	+39 02 6111981
E-Mail:	investor.relations@iconatech.com
Website:	www.iconatech.com
ISIN(s):	IT0005465528 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Vienna MTF)