November 22 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said on Tuesday its unit Koncar - Digital signed an agreement to buy 75% interest in local IT companies Kodeks Sistemske Integracije and EXA Globe.
"The acquisition is aligned with the strategic orientation of Koncar Group towards accelerated growth of operations based on development and application of digital technologies, and as such it will allow Koncar Digital to strengthen its competencies and expand the portfolio of products, services and digital solutions in power engineering, e-mobility, critical and urban infrastructure," Koncar said in a press release.
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The value of the deal was not disclosed.
According to data from the court registry, Kodeks Sistemske Integracije is owned by its founders Sasa Rakovac, Ivan Medvidovic and Nina Rakovac. Sasa Rakovac is the sole owner of EXA Globe.
Koncar's shares last traded on the Zagreb bourse on Monday, ending flat at 840 kuna ($114/111 euro).
(1 euro = 7.543 kuna)