x

Economy

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.”

RELATED

ATHENS - While Prime Minister Kyriakos Mitsotakis has brought an accelerating economy to Greece, his government is struggling to hold down soaring food prices that have led many households to switch to cheaper products or cut spending.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

1 of 2 Abducted Louisiana Children is Found Dead in Mississippi after Their Mother is Killed

JACKSON, Miss. (AP) — A Louisiana woman was found dead in her home Thursday, and her two young daughters were abducted and found hours later in Mississippi — one dead and the other alive, police said.

ATHENS - A Greek lawyer who took on celebrated cases was released from custody after admitting he savagely beat his wife, as the government said it would try to protect women from domestic violence and wanted stricter penalties.

PHOENIX — Over 75 million people in the United States were under extreme heat alerts Monday as a heat wave moved eastward, and the mid-Atlantic and New England were likely to see highs in the 90s as the week progresses.

NEW YORK – Constantine Iordanou, the well-known Cypriot businessman, passed away on June 16 due to a heart attack.

NICOSIA -Cyprus’ biggest tourism drawing card - its beaches - could vanish in the next 50 years because of rising sea levels and climate change that world governments hare largely ignored, Cyprus Institute scientist Giorgos Zittis has warned.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.