Private equity firm PM & Partners SGR S.p.A., through its fund PM & Partners III, has signed a binding agreement to acquire a majority stake in Cognitive AI S.r.l., a tech and media company founded by Paolo Pettinato and Tommaso Odone that specializes in advertising solutions.
PM&Partners takes over Cognitive AI
Founded in 2019, Cognitive has established itself in the market with a unique business model. The company offers highly personalized digital advertising services, utilizing proprietary technology that eliminates the need for third-party cookies to build, activate, and manage full-funnel communication strategies. This innovative approach has positioned Cognitive as a trusted partner for some of the largest media agencies worldwide.
Pettinato and Odone will retain a 45% stake
Founders Pettinato and Odone will retain a 45% stake and continue to play a managerial role within the company. Additionally, Francesca Grilli will maintain her key role in driving the company’s growth strategy and development.
Andrea Mugnai, Founder and Managing Partner of PM & Partners, highlighted Cognitive’s distinctiveness in an evolving market. “We look forward to collaborating with the founding partners on an ambitious growth plan, including external avenues, that will enable us to create a mid-to-large-sized group capable of becoming a major player in the European Digital Advertising market,” Mugnai stated.
Paolo Pettinato expressed optimism regarding the acquisition, stating, “The investment from PM & Partners marks a critical step in our growth journey.” The synergy with PM & Partners as a strategic partner will enable Cognitive to accelerate its expansion both domestically and internationally, all while maintaining its unique identity.
This investment comes at a time when the digital advertising sector is undergoing significant transformation, driven by technological innovation and new privacy regulations. Under PM & Partners' guidance, Cognitive is poised to strengthen its presence and seize opportunities in this ever-evolving market.
The transaction was supported by a team of advisors, including Alpeggiani Avvocati Associati and Camilleri Preziosi Advocates for legal aspects, and EY for tax due diligence. The sellers were assisted by Fineurop Soditic for financial advisory and LCA for legal matters.
