Net Company acquires Intrasoft

INTRACOM HOLDINGS proceeded with the sale of 100% of Intrasoft to NETCOMPANY, after months of negotiations. The value of the transaction amounts to 235 million euros for all the shares of INTRASOFT INTERNATIONAL, and the payment of the price amounting to 184.8 million euros, includes a combination of cash and shares of the above-mentioned acquirer.

For all Intrasoft International shares, cash payment of 166.8 million euros is foreseen and transfer of shares of the buying company worth 18 million euros.

The transaction is expected to be completed within the last quarter of 2021, provided that the terms and conditions have been met and the necessary approvals have been granted.

INTRACOM TECHNOLOGIES, a subsidiary of INTRACOM HOLDINGS Group, as stated in a relevant announcement of the greek group, has entered into a binding agreement with NETCOMPANY, a listed company on the Copenhagen Stock Exchange, for the sale and transfer of all the shares of INTRASOFT INTERNATIONAL, a leading European company providing advanced IT services and solutions, with a strong international presence and expertise.

Based on the provisions of this binding agreement between NETCOMPANY and INTRACOM TECHNOLOGIES, NETCOMPANY is going to acquire all the shares of INTRASOFT INTERNATIONAL, of which 91.74% belongs to INTRACOM TECHNOLOGIES, while the remaining percentage belongs to senior executives of INTRASOFT INTERNATIONAL.


NETCOMPANY is a new generation Danish IT company, listed on the stock exchange with a market capitalization of 5 billion euros. It provides strategic solutions to the private and public sectors, accelerating digital transformation through basic infrastructure systems and services. It was founded in 2000 and is based in Copenhagen. Today, it is an international company with over 3,500 employees in 6 countries.

Strategic decision for the greek group

“The decisive factors of INTRACOM’s success have always been its rapid adaptation to the economic environment and the flexibility in the transition to new business models. This transaction is beneficial to all parties involved:
NETCOMPANY and INTRASOFT INTERNATIONAL are starting a promising partnership with a common vision, and INTRACOM, has the opportunity to develop its investment strategy in cutting-edge sectors in Greece and abroad, creating value for its shareholders”, said Socrates Kokkalis, Founder and President of INTRACOM HOLDINGS.

The sale of INTRASOFT INTERNATIONAL, after 25 years of profitability and growth, is a strategic decision that paves the way for further strengthening of INTRACOM HOLDINGS’ activity, while enhancing its long-term prospects and the value it can offer to its shareholders.

With the completion of Intrasoft International sale, the combination of liquidity and leverage potential acquired by INTRACOM HOLDINGS, gives it an investment capacity exceeding 300 million euros.This amount will be further enhanced through the European funding programs, the Hellenic Development Investment Bank, in which INTRACOM HOLDINGS has planned to participate.

Following a more extrovert and diversified investment approach, INTRACOM HOLDINGS is carefully exploring its participation in sectors that are dynamically developing in Greece and aims at innovation and cutting-edge technologies in developing sectors of the economy, such as the environment, energy, shipping, financial services, and complex Real Estate developments.

In addition, the company, taking advantage of its experience and know-how, will explore every promising investment in technology, including its participation in innovative startups, technology schemes and partnerships, both in Greece and abroad.

INTRASOFT International

INTRASOFT International, announced that as of today it is joining forces with the Danish NETCOMPANY for the creation of one of the leading European IT companies.

This emerging European IT leader is expected to compete with some of the global tech giants.

With a presence across the continent and with a total number of employees over 6,000, it will now be able to target large projects across the wider geographical area, taking advantage of unique digital transformation opportunities.

The combination of NETCOMPANY as a pioneer in Northern Europe with INTRASOFT based in Luxembourg and its strong position in Greece and Southern Europe creates a European success story of INFORMATION TECHNOLOGY, fully complementary in terms of services and solutions offered, according to the relevant announcement of the company.

The new scheme has a rich combined experience in the IT market of European organizations, the public sector as well as large customers such as public utility services, banks and financial institutions and telecommunications organizations.

The timing of this strategic move underlines the great opportunity of digitilization of European governments and the private sector, which is also a target of 20% of the recovery and stability fund funding.

Intrasoft’s combined products for Customs, Tax, Social Security and Netcompany’s Govtech platform, tested in some of the most advanced digital markets in Europe, create synergies that far exceed the sum of the two and will be exploited in emerging opportunities across Europe.

For NETCOMPANY, the move marks the largest acquisition in the company’s history, and for INTRASOFT, until recently a member of Intracom Holdings Group based in Greece, the transaction is an important recognition of its dynamics, growth and future capabilities.

Moreover, the move at a Pan-European level is one of the most important investments in the IT sector in 2021, and certainly a positive nod for the greek high-tech sector.

Alexandros Manos, CEO of INTRASOFT International commented: “This is a historic moment for INTRASOFT that comes as a result of our successful cooperation with Netcompany over the last 4 years for the implementation of the modernization projects of The Danish Customs and the Tax Collection Service.

Our joint commitment to high quality, to the use of new open source technologies, agile methodology and above all our common understanding of the importance of information technology for the empowerment of Europe have built strong trust among us and have given credence to our common vision and to this new step.

We are now in a unique position to take advantage of the opportunities offered by the digitalisation agenda in Europe, reinforced by the EU’s recovery plans in Greece and in all Member States.

As synergies unfold and possibilities become reality, it will become apparent that this move marks a new era of unparalleled growth. The benefits for our people, for our customers and for society ultimately guarantee our shared success and we look forward to continuing this journey together.”

INTRASOFT International was founded in 1996 and is a leading European company in the field of Information and Communication Technology services, providing integrated solutions, high quality IT products and services in the European Union, Ministries and Public Organizations at national level, Financial Institutions, Telecommunications Organizations and large enterprises of the private sector.

It employs more than 2,200 highly qualified executives with excellent technical knowledge and skills, representing 50 different nationalities and mastering more than 30 languages.

In fact, in 2019, Intrasoft had invested in a greek startup, Incelligent, which is active in creating data-driven solutions, predictive and regulatory analytics, using artificial intelligence (Al), Machine Learning (ML) and Deep Learning (DL).

Headquartered in Luxembourg, the company now has a physical presence through offices, branches and subsidiaries in 13 countries (Belgium, Bulgaria, Cyprus, Denmark, Greece, Jordan, Kenya, Luxembourg, Romania, South Africa, the United Kingdom, the United Arab Emirates and the USA), while its international activities expand to more than 70 countries worldwide.

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