SoftCon buys into Extrem Digital

Retail

Hungary’s market leader online electronics dealer, Extrem Digital Kft has sold a 25% stake to Switzerland-based SoftCon Intformatik AG, preparing for Extrem’s IPO in January 2008.

The company needed a capital injection for starting expansion in the region, first in Romania and Bulgaria, and for financing the growth in turnover, said sector director Balázs Várkonyi at a press conference yesterday. Extrem Digital Kft plans to increase sales revenue from Ft 5.5 billion in 2006 to Ft 7 billion this year. The company will conduct a pilot campaign on the online market of small household appliances this year. If it proves successful, their portfolio will see a further expansion: online trade in bigger appliances, but only those related to digital technology. SoftCon projects a rapid expansion of online trade in the CEE region. Its 25% plus 1 vote entails auditing tasks in Extrem, while Extrem’s management can go on with their current strategy. The purchase price is considered a business secret by both parties, no data suitable for making a reasonable estimate were revealed. (Napi Gazdaság)

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