The leading Greek software company Intrasoft International has reached agreement on Friday with the Danish firm Netcompany to sell its entire outstanding share capital in a €235 million ($271 million) deal.
Intrasoft International, established in 1996, was a subsidiary of Intracom Holdings, one of the largest multinational technology groups in SE Europe.
It is a leading European IT Solutions and Services Group with strong international presence and expertise, offering solutions to a wide range of international and national public and private organizations.
The company employs more than 2,200 highly-skilled professionals, representing over 50 different nationalities and mastering more than 30 languages. With headquarters in Luxembourg, Intrasoft operates through its operational branches, subsidiaries and offices in 13 countries: Belgium, Bulgaria, Cyprus, Denmark, Greece, Jordan, Kenya, Luxembourg, Romania, RSA, UK, UAE and the US.
Transaction “in the best interests” of Intrasoft and Netcompany
Sokratis Kokkalis, the Founder and Chairman of Intracom Holdings, said that the transaction with Netcompany is in the best interests of both parties.
“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 to the best interest of all parties involved: Net Company and Intrasoft 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.”
In a statement Intracom says that the sale of Intrasoft International will fuel the mother company with a combination of liquidity and leverage potential, offering investment capability of over €300 million, which could be further expanded by European funding projects through Hellenic Development Bank of Investment, in which Intracom aims to participate.
Adopting from now on a broader, extrovert and differentiated investment approach, Intracom thoroughly evaluates its participation in emerging sectors in Greece aiming in innovation and cutting edge technologies in fast growing sectors such as environment, energy, shipping, financial services, and complex real estate developments, the company adds.
Netcompany: acquisition of Intrasoft to help digitalization in Europe
Netcompany, founded in 2000, has its headquarters in Copenhagen, Denmark. Today, it has become an international firm with more than 3000 employees in six countries.
Netcompany is a pure-play IT services company delivering business-critical strategic IT projects that accelerate customers’ digital transformation through digital platforms, core systems and infrastructure services.
André Rogaczewski, CEO of Netcompany, said that the acquisition of Intrasoft International will help the company to become better positioned to play a vital role in the digitalization process in Europe.
“We are facing an unprecedented and exciting time in Europe where all societies are now accelerating and understanding the value of digitalization. By digitising Europe responsibly, we fundamentally change societies, businesses and the way we live our lives for the better,” Rogaczewski said.
“By acquiring Intrasoft, we become better positioned and strengthened to play a vital role in helping European governments, businesses, and institutions in their efforts to take the full advantage of digitalization. Intrasoft now becoming a part of Netcompany means that we together have more innovative platforms, more competences, and a wider presence throughout Europe,” the CEO of Netcompany added.