The transaction, announced on 30th July, has been successfully closed between Delta Group and Est Media, making the listed company the owner of the IT enterprise Delta Systems Ltd. with its almost HUF 16bn (approx. EUR 48.3 million) annual revenue. Accordingly, DeltaGroup Holding gains more than thirty percent ownership of the stock exchange listed company and Est Media can continue its operations with new, stable shareholder background and fundamentals, along with a strengthened management board in order to execute its growth strategy.
The parties announced on the website of Budapest Stock Exchange that the part of Delta Systems’ price, which has been expected in the form of money, got settled successfully. To compensate the remaining amount, Est Media issues 125 million ordinary shares for Deltagroup Holding Zrt., which stands for an approximately 30% ownership.
Delta Systems Zrt. closed the shifted financial year of 2019 with almost HUF 16bn (approx. EUR 48.3 million) annual revenue. As soon as the shares are issued, Est Media acquires the ownership of Delta Systems Ltd., a significant supplier of the institutional and corporate clients in the IT market. Simultaneously, it turns DeltaGroup Holding Zrt. into a 30%-owner shareholder of the stock enterprise.
As from today, the modified name of the listed company is Delta Technologies Plc., and its board of directors is extended with Delta Group’s management and owners: Zsolt Bártfai, Zoltán Csontos, István Hartmann and Levente Pércsi. The company is newly based in Delta Group’s office, located under the address of Budapest, Róbert Károly boulevard 70-74.
As a result of this closing, the stock exchange listed corporation can continue its operations with new, stable shareholder background and fundamentals, along with strengthened management board in order to execute its growth strategy. The main goal is to turn the company into a significant participant of the Central Eastern European region’s IT and industrial digitization area. So as to reach this target, they plan on accomplishing more portfolio compatible acquisitions, broadening the product and service range and increasing the financial results.