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GVH approves Magyar Telekom acquisition of ISH Informatika

Hungary's Competition Office (GVH) on Monday said it approved Magyar Telekom's acquisition of ISH Informatika, a company that provides integrated hospital IT services.

Magyar Telekom said two weeks earlier that GVH approved the acquisition.

Magyar Telekom announced in May that it acquired 100% of the IT company for HUF 2.9 billion, minus net debt at the closing of the transaction.

The head of Magyar Telekom's corporate services division T-Systems said ISH Informatika would continue operating as an independent legal entity within T-Systems, subordinated to IQSYS, the subsidiary responsible for applications.

ISH specialises in developing, installing and operating integrated healthcare IT services. It is market leader in the segment with a share of 60%, generating revenue of almost HUF 2.9 billion and EBITDA of HUF 1 billion in 2008, Magyar Telekom said earlier. (MTI-Econews)