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Synergon funds acquisitions with proceeds from Czech sale

Hungarian IT company Synergon on Wednesday said it acquired stakes in a number of peers for almost HUF 1.9 billion in cash - much from the sale of its Czech unit - and an unspecified number of shares.

The acquisitions are expected to boost consolidated revenue by about HUF 3 billion and EBITDA by HUF 400-450 million next year, Synergon said. Synergon had a consolidated loss of HUF 700 million on revenue of HUF 16.57 billion in 2011.
Synergon acquired stakes in NK services, which offers cloud computing services; Wiera group, which provides wireless internet points and digital signage at retailers and commercial establishments; GPSCOM, a seller of radios and GPS devices; and Adatvilág, a big local distributor of Symantec security products.
With the purchase of the stake in Adatvilág, Synergon also acquired an almost 500,000sqm plot in an industrial park near the M1 motorway that could be turned into a data centre with the support of European Union funding.