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Greece's Inform P Lykos buys majority stakes in 2 units of Romania's Sistec

Greece's Inform P Lykos buys majority stakes in 2 units of Romania's Sistec Inform Lykos Romania

BUCHAREST (Romania), October 31 (SeeNews) - Greek smart cards manufacturer Inform P Lykos SA said it has acquired 65.07% of Sistec Next Docs and 65.45% of Sistec Confidential, both part of Romanian IT group Sistec.

The deal, signed in August, was carried via the Greek company's Romanian subsidiary Inform Lykos Romania, Inform P Lykos SA said in a statement filed with the Athens Stock Exchange on Wednesday.

The value of the transaction was not disclosed.

Sistec Next Docs and Sistec Confidential are two of five companies that form Sistec group, an IT solution provider founded in 1994 with regional offices in Cluj and Bucharest. The group employs 170 and has 27 service centers across Romania, as well as three data centers.

Inform P Lykos develops, produces and personalizes smart cards for banks, telcos and the public sector. It is present in Romania since 2001.

In 2013, the group opened a card production facility in Bucharest following a 25 million euro ($28 million) investment.

In April, Inform Lykos Romania paid 2.5 million euro for the output management outsourcing division of local archiving company Star Storage.

($=0.8957 euro)

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