Gloster, Systemfarmer to Merge

Deals

Photo by Korrektor10/Wikimedia Commons

Gloster has signed a contract to merge with Hungarian peer Systemfarmer, the listed IT company announced on Friday, according to a report by state news wire MTI.

The merger, to take place through a share swap, will create the biggest Hungarian-owned cloud services partner of Microsoft, Gloster said.

With a staff of close to 25, Systemfarmer counts the publisher of business new portal Portfolio, bookings site Szallas.hu, staffing agency WHC Group and U.S.-based Transcend Software among its business partners.

The merged company, with a staff of almost 40, will operate under the name Gloster Cloud from January 1, 2025. Systemfarmers' results will be consolidated with Gloster Group's from 2024.

Alteo Shareholders Approve HUF 400/Share Dividend Green Energy

Alteo Shareholders Approve HUF 400/Share Dividend

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

MBH Bank’s Post-merger HR Vision HR

MBH Bank’s Post-merger HR Vision

Silvanus Hotel Under Reconstruction, Will Reopen in Fall Hotels

Silvanus Hotel Under Reconstruction, Will Reopen in Fall

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.