Profile in advanced discussions for acquisition of majority stake in Algosystems

Profile is successful an precocious stage of negotiations with Algosystems, according to an announcement by the listed company, a information that confirms the aggravated mobility of acquisitions and collaborations that the IT manufacture is experiencing.

As Profile’s absorption emphasized, it is successful discussions with the bulk shareholders of Algosystems regarding the acquisition of their full information successful the company, namely the bulk percent of astatine slightest 85% of each its shares and voting rights.

The parties are successful precocious discussions for the finalization of the General and Special Terms and Conditions of the transaction (Share Purchase Agreement). Based connected the existent data, the company’s Management estimates that the implementation of the transaction will beryllium completed successful the adjacent future.

Headquartered successful Kallithea, Attica, Algosystems has been operating for 35 years successful Greece and 7 years successful Qatar done its subsidiary arsenic a System Integrator. It offers diversified solutions, such arsenic Information Technology and Communications, Automation and Control, and Metrology, with technology arsenic its communal component.

On its part, the Profile Group has emphasized that it aims to much than treble its revenues successful the adjacent three years 2025-2028, done enlargement successful existing and caller markets, investments successful innovation, acquisitions and partnerships (M&A) and further betterment successful efficiencies.