September 9 (SeeNews) - Austrian high-tech firm S&T has completed the acquisition of Slovenian information and communications technology (ICT) provider Iskratel Group, it said.
S&T has merged Iskratel and its local subsidiary S&T Slovenia and they have been operating under the S&T Iskratel corporate name since September 1, S&T said in a statement earlier this week.
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The company is led by Saso Berger and Robert Kuzmic, and their deputies are the executive director of the infrastructure solutions business unit, Jure Fir, as well as the director of strategic development, Janez Oeri, the company noted.
S&T signed a deal to acquire Iskratel Group at a fixed purchase price of 37.5 million euro ($37.9 million) in July.
Kranj-based Iskratel Group provides ICT to operators of telecommunications, railway and energy networks, as well as to the industrial automation sector.
It is active primarily in the Adriatic region and Eastern Europe through its group companies, employing some 900 people. In 2019, it generated sales of 115 million euro and a slightly positive result, S&T said without elaborating.
($ = 0.99007 euro)