Bulgaria's TBS Group to acquire Croatia's Sedam IT

The final purchase price will be paid in stages, based on the agreed company value and depending on its financial debt, cash and net working capital at the date of transfer of company shares, as well as its financial results for 2024 and 2025, TBS Group said in a bourse filing on Tuesday.

Zagreb-based Sedam IT, founded in 2003, is a leading Croatian provider of ICT solutions and services, according to its LinkedIn profile. The company has completed over 400 projects in the telecommunications, finance, retail and public enterprises sectors.

Shares in TBS Group last traded on Tuesday when they closed at 9.25 levs on the Bulgarian Stock Exchange, bourse data show.

($ = 0.9265 euro)