August 26 (SeeNews) - Croatian holding company Meritus Ulaganja [ZSE:MRUL] said on Friday it is changing its group brand name to M Plus from M+ in line with its goal to become a global business process and technology outsourcing (BPTO) player.
“The new brand name and visual identity are a response to the significant growth and expansion of the company, whose target markets and services have evolved significantly,” the group said in a filing to the Zagreb bourse.
Meritus Ulaganja is the parent company of Zagreb-based BPTO services provider M Plus Group, which operates also in Germany, Slovenia, Bosnia, Serbia, Turkey, Romania, Hungary, the UK and the U.S.
Over the past five years, the group has made 15 acquisitions and secured a diversified portfolio of clients consisting of technology, energy, logistics, and e-commerce companies, consumer goods companies, financial institutions, and European and global telecoms, it has said earlier. It has a language portfolio of 31 languages.
“With this rebranding process, M Plus enters a new phase of growth as one of the leading players in the European BPTO market, with the ambition of conquering the global market,” it said in the filing.
Meritus Ulaganja's shares last traded on the Zagreb bourse on February 24, closing 9.09% lower at 1,000 kuna ($133/134 euro).
Meritus Ulaganja did not respond to SeeNews email seeking information on the value of rebranding by the time this article was published.
(1 euro = 7.513 Croatian kuna)