Gloster Acquires P92 IT Solutions

Deals

Photo by Korrektor10/Wikimedia Commons

Listed IT company Gloster announced the acquisition of Hungarian software company P92 IT Solutions on Friday, according to a report by state news wire MTI.

The acquisition of P92 IT Solutions, which has units in Palo Alto and London, is expected to boost Gloster's consolidated revenue by around one-third and EBITDA close to 50%.

Gloster's group-level headcount will rise from 208 to 340 with the acquisition, while its export revenue ratio will climb to 44% from 37%.

P92 IT Solutions counts Sony Music, Blackhawk Network, and Valuenet among its clients.

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S... Figures

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S...

Economic Cooperation 'Firm Foundation' for German-Hungarian ... Int’l Relations

Economic Cooperation 'Firm Foundation' for German-Hungarian ...

Summer Season in Full Swing at Budapest Airport Transport

Summer Season in Full Swing at Budapest Airport

Sziget Tops Slingo Music Festival Ranking In Budapest

Sziget Tops Slingo Music Festival Ranking

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.