Epsilon Net announced the agreement to acquire a 100% stake in the company under the name “Sotiris Matsoukas S.A.” and the distinctive title “CSA“, which is active in the development of specialized IT solutions and automation systems for pharmacies and businesses operating in the field of marketing and distribution of the drug in Greece (www.csagreece.com).
The 100% of CSA will be transferred to Epsilon Net by 5 shareholders natural persons, while the total price for the acquisition of the company will be 2.73 million euros. The company’s turnover for the financial year 2021 stood at 2.75 million euros with an estimated EBITDA of 455,000 euros and estimated earnings before tax for 2021 of 380,000 euros. It is noted that the company had on 31/12/2021 cash holdings of 295,000 euros and a loan of 386,000 euros, while it should be noted that CSA also owns an autonomous building complex of offices and warehouses on a central road axis in the Municipality of Agia Paraskevi, Attica with an estimated commercial value of approximately 1 million euros.
According to the same announcement, this acquisition, on the one hand, implements Epsilon Net’s strategic plan for entry into special vertical markets, providing innovative products and services with the aim of expanding the customer base, and on the other hand, constitutes the first step towards the gradual expansion of the group’s activities in IT systems for the health sector. The group follows consistently and continuously its business plan at the level of continuous organic growth, while at the same time it proceeds to acquisitions and technological partnerships aiming at increasing its market shares and total financial figures.
“2021 was a landmark year for our group. As we have already estimated, the success of 2021 will be the beginning of a new creative cycle, with intense growth rates in the sectors where the company operates with an emphasis on Web and Cloud technologies. With the inclusion of CSA, we begin our activity in the special field of information systems for Health. Together with the CSA executives, we have designed and will implement a comprehensive plan to upgrade the company’s systems and create new tools for the Greek Pharmacy and the wider sector of Medicine. The large family of companies of the Epsilon Net Group, continues with vision, a human-centered approach and dedication to serving the needs of our customers. Our central goal remains to generate value for our people, partners and shareholders every day.”, said Ioannis Michos, founder of the Group, chairman of the board of directors and CEO of Epsilon Net.
“After 36 years of creative course in the IT sector and having created a series of renowned applications for pharmacies and businesses active in the trade of the drug, it is time for our company to start a new page in its successful course and join the large family of the Epsilon Net group.
With the management and technological team of Epsilon Net we have already planned the implementation of an innovative plan to upgrade our applications and create new tools and services for the Greek Pharmacist and businesses operating in the wider health sector, with emphasis on Cloud technologies and e-commerce. I would like to especially thank the thousands of customers of our company for our long-term cooperation and their trust and especially our executives and staff for their for their daily effort and contribution throughout all the previous years. With the help of the Epsilon Net Group, we continue all together, next to our customers, guided by our long experience and technological innovation.”, stated Christos Delimargas, chairman of the board of directors and CEO of CSA.
EMEAstartups 2576 posts 0 comments