Intracom Holdings Sells Intrasoft International to Netcompany for €235M

ΑΤΗΕΝS — Intracom Holdings on Friday announced that its subsidiary Intracom Technologies S.a.r.l, has entered into a binding agreement with Netcompany Group A/S for the sale and transfer of the total outstanding shares of Intrasoft International, a leading European provider of advanced IT solutions and services with a strong international presence and expertise.

Pursuant to such a binding agreement between Netcompany and Intracom Technologies, Netcompany will acquire the entire outstanding share capital in Intrasoft International, out of which a percentage of 91.74 is currently held by Intracom Technologies, whereas the remaining percentage is held by individuals in the top and middle management of Intrasoft International.

The transaction value is 235 million euros for the acquisition of the entire outstanding share capital of Intrasoft International and the purchase price, which amounts to 184.8 million euros, is to be comprised of a combination of cash and share consideration by the acquiring company. More specifically, for the acquisition of the entire outstanding share capital of Intrasoft International, the agreement provides for a cash payment of 166.8 million euros and a share consideration in Netcompany's shares corresponding to a value of 18 million euros.

Completion of the transaction is expected within the fourth quarter of 2021, subject to the anticipated terms and conditions, as well as the necessary approvals.

Mr. Sokratis Kokkalis, Founder and Chairman of Intracom Holdings, commenting on the transaction stated: “Defining drivers of Intracom’s success have always been adaptability to economic environment and flexibility in the transition to optimum business models. This transaction is in the best interests of all parties involved: Netcompany and Intrasoft International enter into a successful partnership, sharing the same vision, and INTRACOM has the chance to develop a significant investment plan in cutting-edge sectors in Greece and abroad, thus generating value for its shareholders.”


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