FreeSoft swallows small fry after Big Fish
Wednesday, March 16, 2005, 00:00
Publicly traded IT company FreeSoft Rt signed a preliminary agreement regarding the acquisition of a 50.13% stake in Axis Information Technology Kft, the company said in a statement on the website of the Budapest Stock Exchange (BÉT). Axis is registered in Székesfehérvár with Ft 30 million capital. The price is set at Ft 120 million, the purchase is pending the current owners? decision to forgo their right to exercise a purchase option. Axis group, which had Ft 1.2 billion in consolidated revenue last year, also comprises Axis Consulting Kft and Sybase Kft. The planned acquisition is FreeSoft?s third after Big Fish Kft and MoolTech Kft since it went public last summer.