Solytron Bulgaria, with sales of EUR110 million and a market share of over 30 per cent, is one of the leading IT distributors in Bulgaria. In acquiring the company ALSO is taking the consistent expansion of its Eastern European business further forward. Solytron, founded in Sofia in 1991, trebled its sales revenue between 2011 and 2018 and as a solution distributor with around 120 employees on its payroll sells solutions and products of over 50 leading manufacturers. Solytron also provides comprehensive services, consulting and training.
EMMEN, SWITZERLAND / ACCESSWIRE / April 15, 2019 / Solytron Bulgaria with a market share of over 30 per cent and continuous growth for the past six years is one of the largest and most successful distributors in Bulgaria, says Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX:ALSN). With the acquisition we have sent a further strong signal of our aim to expand in Eastern Europe. As a solution distributor, however, the company provides not only hard- and software but also first-rate service competence. Solytron thereby underpins at the same time our claim to become the leading full service provider to the channel across Europe.
Since 2015 Bulgaria has been one of Europe's growth rate champions and with its robust growth is well on the way to further reducing economic disparity between it and the other EU member-states. Industrial development plays an important role and new technologies are needed.
The continuous strong growth of Solytron Bulgaria OOD reflects this development. By trebling its sales in just seven years the company has made very good use of its opportunities in the market. Its high market share of more than 30 per cent is also a good starting position from which to continue to benefit from the country's economic development.
Solytron Bulgaria OOD offers a comprehensive portfolio and sells products and solutions of over 50 well-known manufacturers from all over the world. The company thereby provides all of the components required - from smartphones via servers and storage to video surveillance - to set up modern corporate ICT infrastructures.
It also offers comprehensive services - from solution advice and installation to training and qualification programmes - and as a distributor provides logistics services to the end customer.
ALSO gains from the acquisition, which is subject to the usual regulatory approval, another strong foothold in an up-and-coming Eastern European market while at the same time laying the foundations for greater innovative strength and competitiveness on the part of the distributor. In addition, ALSO will on completion of the acquisition of Solytron and ABC Data be represented in nearly all East European markets except Russia. The market volume that can be addressed in these countries amounts to around EUR 30 billion - with highly promising growth prospects for the leading full service provider.
Direct link to media release: https://www.also.com/ec/cms5/en_6000/6000/company/news-and-press-releases/news_item_2_82112.jsp
Contact person ALSO Holding AG:
Ketchum Pleon GmbH
Phone: +49 211 9541 2160
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings providers and buyers of the ICT industry together. ALSO offer more than 550 vendors of hardware, software and IT-services access to over 100 000 buyers, who can call a broad spectrum of other customized services in the logistics, finance, and IT services sectors, as well as traditional distribution services. From the development of complex IT landscapes, the provision and maintenance of hardware and software, right through to the return, reconditioning and remarketing of IT hardware, ALSO offers all services as a one-stop shop. ALSO is represented in 18 European countries and generates total net sales of approximately 9.2 billion euros with around 4 000 employees in the fiscal year 2018. The majority shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany. Further information is available at https://also.com
Droege Group (founded in 1988) is an independent advisory and investment company under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in 'special situations'. With the guiding principle 'execution - following the rules of art', the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on current megatrends (knowledge, connectivity, prevention, demography, specialization, future work, shopping 4.0). Enthusiasm for quality, innovation and speed determines the company's actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://www.droege-group.com
This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.
Document title: ALSO Holding AG: ALSO acquires largest Bulgarian IT distributor
SOURCE: ALSO Holding AG