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SOFIA (Bulgaria), October 30 (SeeNews) - Switzerland-based ICT solutions and services provider Also Holding said that it has completed the acquisition of 100% of IT solutions distributor Solytron Bulgaria after receiving anti-trust approval earlier this month.
"The acquisition is another important step in the implementation of ALSO’s strategy to strengthen its position in the Eastern European markets," Also Holding said in a statement on Tuesday.
Also Holding wants to achieve an overall market share of 20% in the entire region, the company said.
Solytron Bulgaria posted revenue of 215 million levs ($120 million/110 million euro) last year, up from 172.3 million levs in 2017. The company employs 120 people in the country.
In the past year, Also Holding acquired value added distributor DISS in Slovenia, IT distributor RECRO in Croatia, and Poland-based ABC Data Group, which has operations in Hungary, Romania, Czech Republic and Slovakia.
Also Holding bundles logistics services, financial services, supply services, solution services, digital services, and IT services together into individual service packages. The company's portfolio contains more than 250 000 articles from some 550 vendors.
Solytron Bulgaria, founded in Sofia in 1991, trebled its sales revenue between 2011 and 2018 and sells solutions and products of over 50 vendors.
(1 euro = 1.95583 levs)