December 22 (SeeNews) - Croatian holding company Meritus Ulaganja [ZSE:MRUL] said it is acquiring majority stakes in two Serbian companies for a total of 5.9 million euro ($6.3 million) to lay the foundations for becoming a regional leader in the segment of human resources management.
On December 20, Meritus Ulaganja signed a contract for the acquisition through a subsidiary company of 90% of the shares of MPS Integration d.o.o. and 51% of the shares of Integrator Holding d.o.o., it said in a filing to the Zagreb bourse on Tuesday.
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Meritus Ulaganja is the parent company of business process and technology outsourcing (BPTO) services provider M Plus Group. It also operates in Germany, Slovenia, Bosnia, Serbia, Turkey, Romania, Hungary, the UK and the U.S.
“The partnership and creation of a joint business between Mplus as the leading BPTO provider in the region and us as the leading company for HR solutions will create synergy and result in growth and development," the CEO of Integrator Holding, Aleksandar Hangimana, said in the filing. "In the future, I see us as a leading HR and talent solutions company in a large part of Europe, and we plan to continue with propulsive growth through further acquisitions.
CEO of Meritus, Darko Horvat, noted that by acquiring shares in Integrator Holding, the company is laying the foundations for a new regional leader in HR management, which will use advanced technologies in business in the markets of central and southeast Europe to offer a complete and integrated HR solution for the most demanding users.
Meritus Ulaganja's shares last traded on the Zagreb bourse on November 11, closing flat at 1,100 kuna ($155/146 euro).
(1 euro = 7.542 Croatian kuna)