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Hungary's ANY Security Printing Company sells 50% stake in Bulgaria's Direct Solutions

Hungary's ANY Security Printing Company sells 50% stake in Bulgaria's Direct Solutions Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), July 12 (SeeNews) - Hungary-based ANY Security Printing Company said on Monday it signed a contract for the sale of its 50% stake in Sofia-based outsourcing company Direct Services for 2 million euro ($2.4 million).

The name of the buyer was not disclosed.

The closing of the transaction is subject to the registration of the change of ownership by the Bulgarian authorities, which is expected to take place by the end of July, ANY Security Printing Company said in a statement.

According to data published on the website of the Bulgarian commercial register, the remaining 50% interest in Direct Services is held by Sofia-based Power Solutions.

Direct Services was established in 2005 by ANY Security Printing Company in partnership with Bulgarian IT company KONTRAX. Direct Services operates in the field of transaction printing, digital printing of books, digitisation and physical storage of documents, supplies of PIN envelopes and bank cards. Direct Services, which has a team of 60 employees, recorded 8.8 million levs ($5.3 million/4.5 million euro) in sales last year, according to information published on the company's website.

Budapest-headquartered ANY Security Printing Company is one of the biggest security printing companies in Hungary and the leading one in the region of Central and Eastern Europe. Besides the national subsidiaries - Gyomai Kner Nyomda Zrt., Specimen Zrt. and Techno-Progress Kft., and the Bulgarian joint venture, the company has subsidiaries in Slovakia and companies under joint control in Moldova (Tipo Direct Serv s.r.l.) and in Romania (S. C. Zipper Data s.r.l.), according to information published on its LinkedIn profile.

($ = 0.8423 euro)

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