First Berlin Equity Research has published a research update on beaconsmind AG (ISIN: CH0451123589). Analyst Christian Orquera reiterated his BUY rating and maintained his EUR 18.50 price target.

Abstract
On 15 January 2025, beaconsmind completed the acquisition of information and communication technology (ICT) services provider Swissnet AG and Dubai-based traveltech specialist Lokalee for a total consideration of CHF21.3m. These transactions were followed by beaconsmind’s rebranding as Swissnet Group (Swissnet) a few days later. In line with the acquisition roadmap, beaconsmind previously held an Extraordinary General Meeting in December 2024, where shareholders unanimously approved the issuance of 850k new shares, raising the required CHF4.35m cash component of the purchase price. This capital increase was subscribed by the management team, board members, anchor investors, and new institutional investors. Swissnet also had a good start to the new year as it secured two significant contracts, one with the large private nursing home operator Vitanas Group (project valued at ~€800k), and one with the multinational tobacco group Philip Morris (project valued at ~CHF1.2m). In our view, Swissnet is accomplishing its strategic goals as expected. We anticipate that 2025 will be a strong year for the company. Based on unchanged estimates, we reiterate our price target of €18.50 and our Buy recommendation.