Acquisition, Computer Software, Hungary

15 Dec 2009

Asseco Slovakia AS, the listed Slovakia based system integrator and supplier of IT solutions, technologies, and services and subsidiary of Asseco Poland SA, the listed Poland based integrator of information technology and provider of IT solutions, agreed to acquire a 70.04% stake Statlogics Zrt, the Hungary based Software Company, for an undisclosed consideration, estimated to be EUR 8m.
Asseco is acquiring the shares from nine individuals. This transaction will be financed by Asseco from its own resources. The agreement also provides that shareholders owning the remaining 29.96% of the shares can make an offer to Asseco to purchase those shares and vice-versa. The acquisition will allow Asseco to enter and enhance its position in the Central European market, with the help of Statlogics's Central European consumer loan solutions. The acquisition will enable Statlogics to strengthen its position in front of existing customers and it will give an opportunity for making potential clients. Statlogics Zrt has generated revenues of EUR 3.8m in the year 2008 and has 75 employees. The transaction is subject to Slovak Antimonopoly Office approval.

~ Mergermarket