Croatia's Koncar wraps up buy of 75% of Kodeks Sistemske Integracije, EXA Globe

On December 20 the conditions were met for the completion of the transaction, Koncar said in a filing to the Zagreb bourse on Tuesday.

Koncar announced the deal in November without disclosing its value, adding that it is aligned with the strategic orientation of Koncar Group towards accelerated growth of operations based on development and application of digital technologies.

According to data from the Croatian court registry, prior to the acquisition Kodeks Sistemske Integracije was owned by its founders Sasa Rakovac, Ivan Medvidovic and Nina Rakovac. Sasa Rakovac was the sole owner of EXA Globe.

Koncar's shares traded 1.16% higher on the Zagreb bourse on Wednesday, at 875 kuna ($123/116 euro).

(1 euro = 7.543 kuna)