OverIT Announces the Spin-Off from the Engineering Group by Bain Capital and Neuberger Berman and Paolo Bergamo as New CEO

Sep 23, 2021 • News • Artificial intelligence • Augmented Reality • CEO • OverIT • Leadership and Strategy • EMEA

OverIT announced that, starting from October, the company will be spun off from the Engineering Group becoming an independent entity controlled by Bain Capital and Neuberger Berman.

In addition, Paolo Bergamo has been appointed as Chairman and Chief Executive Officer of OverIT. Prior to joining OverIT, Bergamo was Senior Vice President Product Management at Salesforce in San Francisco, California.

In his new role, Bergamo will lead OverIT's global team, growth strategy and vision.

Bergamo has a deep knowledge of Field Service Management, with over two decades of proven global experience in the software sector. Given his track record, Bergamo is ideally placed to lead OverIT in its next phase of growth as innovator and visionary.

"The spin-off is the result of a strategic partnership between Neuberger Berman and Bain Capital, that has the goal to accelerate OverIT's internationalisation and build the global Field Service Management software leader through increased investments" said Piero Galli from Neuberger Berman.

"When searching for a new CEO to lead OverIT growth journey and reach the ambitious goals we set, we wanted someone who deeply understood not only the industry OverIT operates in, but also the ambition of our funds and the culture of a global company. Paolo has proven leadership capabilities and a track record of scaling technology businesses; we are pleased to have him join to lead the company in the next phase of growth" said Giovanni Camera from Bain Capital.

"I'm thrilled to join OverIT at such an exciting period" said Bergamo, "When Bain Capital and Neuberger Berman proposed to me the ambitious project to bring OverIT, one of the flagships of Made in Italy technology, to the forefront internationally, I felt I couldn't miss this great opportunity. I have the ambition to make OverIT an international hub for young technology talent to grow and unleash their potential".

OverIT, backed by US capital with development headquarters in Italy and main US office in Miami, is a multinational company with more than 20 years of international and cross-industry experience in Field Service Management. The firm is recognized by premier global advisory and consulting organizations as a leading vendor in FSM, Mobile Workforce Management and AR industries. providing more than 300 international customers and 150,000 Field Service users with process knowledge, innovative functionalities and cutting-edge technologies.

Bain Capital, LP is one of the world's leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we've applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,200 employees and approximately $140 billion in assets under management. To learn more, visit www.baincapital.com.

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate, and hedge funds—on behalf of institutions, advisors, and individual investors globally. The firm manages $433 billion in client assets as of June 30, 2021. NB Renaissance supports ambitious entrepreneurs and management teams with a goal to create market leading businesses. Part of Neuberger Berman since 2015, today NB Renaissance manages €2.0 billion of commitments from a pool of high-quality Italian and international investors. NB Renaissance is currently invested in 12 companies, which include some of the excellence of the Italian corporates. NB Renaissance can count on a team of 20 private equity professionals of Neuberger Berman in Italy, supported by the broader Neuberger Berman private equity platform of 245+ professionals.