Magyar Telekom buys Dataplex for Ft 5.1 bln
Tuesday, December 13, 2005, 12:00
Telecom service provider Magyar Telekom Rt bought IT services company Dataplex Kft for Ft 5.1 billion ($24 million) to make its internet unit more competitive, the company said in a stock exchange statement today. Budapest-based Magyar Telekom, a unit of Germany's Deutsche Telekom AG, will finance the purchase with loans.
The company has been reacting to tougher competition in Hungary by expanding in the Balkans and beefing up units at home. Magyar Telekom aims to improve services at ISP unit T-Online by adding high-security storage and server hosting capacity. "Dataplex provides an organic growth opportunity in the IT services market where our own capacities no longer suffice to meet the demand of key business customers," the company said. Magyar Telekom said it will also take over an asset lease liability for Dataplex with a current value of Ft 230 million. Dataplex, which has 18 employees, expects to have sales of Ft 1.3 billion this year.