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BUCHAREST (Romania), June 14 (SeeNews) - Swiss IT systems and solutions distributor ALSO Holding AG said it has received the unconditional consent of the European Commission (EC) for the acquisition of ABC Data S.A. business in Romania, Lithuania, Czech Republic, Slovakia and Hungary.
Through the acquisition, ALSO is pushing ahead with its Eastern European expansion strategy, it said in a press release on Wednesday.
ALSO will thus become the market leader in Eastern Europe with an addressable market volume of around 30 billion euro ($33.8 billion) per year.
"With the activities to be acquired, ALSO Holding AG aims to expand its high-margin solutions business. With the ABC Data platform, the company will then also be in a position to offer its customers consumption-dependent IT-as-a-service services via the ALSO Cloud Marketplace (ACMP)," the company said.
ALSO Holding AG was founded in 1984 and has been listed on the Swiss stock exchange since 1986. In 2018, ALSO had a turnover of 9.2 billion euro. It is active in 18 European countries: Austria, Belarus, Belgium, Croatia, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Netherlands, Norway, Poland, Slovenia, Sweden, Switzerland and Ukraine.
The majority shareholder of ALSO Holding AG is the Droege Group.
ABC Data is a Warsaw-based company active in six Eastern European countries, which generated sales of over 1.048 billion euro in 2018.
ABC Data is present in Romania since 2014 through ABC Data Distributie.