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 - Greek public debt totaled 357,295 billion euros at the end of the third quarter of 2021, from 337,666 billion in the corresponding period in 2020, Hellenic Statistical Authority said on Friday.

Top Stories

Church

BOSTON – The Holy Synod of the Patriarchate of Alexandria in its recent meeting dealt with the ecclesiastical coup perpetrated by the Patriarchate of Moscow in its canonical jurisdiction, calling it an “immoral invasion and intrusion.

Church

NEW YORK - Some 21 years after it was destroyed in the September 11, 2001 terrorist attacks in the United States that brought down the Twin Towers in New York City, the new St Nicholas Greek Orthodox Church rising in its place is among the most eagerly awaited architectural openings of 2022.

Events

STATEN ISLAND, NY – For yet another year, the community of Holy Trinity-St Nicholas in Staten Island honored couples celebrating 50+ years of marriage with a modest ceremony held at the church immediately following the Divine Liturgy on January 16.

Video

Greece: Heavy Snowfall is Expected on Monday, Schools to Remain Closed in Attica (Vid)

ATHENS - Schools of all levels of education will remain closed throughout Attica on Monday and Tuesday, January 24-25, due to extreme weather conditions.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

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