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Synergon boosts stake in Czech subsidiary

IT company Synergon Rt announced late on Friday it had increased its stake in its Czech unit Infinity SA from 75.8% to 91.7% with a capital injection worth a nominal CZK 5 million (Ft 46.35 million).

Infinty's registered capital reached CZK 8.35 (Ft 77.4 million) million after the raise.
Synergon announced in March that the board of managers of the Czech unit decided to appoint Vladimir Cech CEO. Cech will replace Hanus Weisl with immediate effect. The main task of the new CEO will be to strengthen Infinity's market position and to achieve a level of growth that makes the company profitable by year-end, according to the statement.
Infinity had revenue of Ft 3.8 billion in 2005, down 18% from the previous year, but still accounting for 19% of Synergon's consolidated revenue.