Extraordinary information - Gloster successfully closes its tenth acquisition

Extraordinary information
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Gloster Infokommunikációs Nyilvánosan Működő Részvénytársaság (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A A/2.; hereinafter: Company, Gloster, Issuer) hereby informs its esteemed investors of the following in accordance with the General Business Rules of the Budapest Stock Exchange Xtend and the relevant legislation.

Gloster successfully completes its tenth acquisition With the acquisition of a majority stake in P92 IT Solutions Kft., the Group's export revenues are set to grow significantly

Nagytarcsa, August 3, 2023 – Gloster Infocommunications Plc. has successfully completed its largest acquisition to date within the set deadline. Gloster Infocommunications Plc. newly acquired IT development company will continue to operate under the name Gloster-P92, with no changes to the company's management. With this acquisition, the Gloster Group gains a direct presence in Silicon Valley and London, while its revenue is expected to grow by a third and its export ratio may exceed the expectations set out in the management's 2025 strategy by the end of the year thanks to the completion of the transaction.

Gloster Infocommunications Plc. , listed on the Budapest Stock Exchange's Xtend market and preparing to enter the Standard category in the fall, has acquired a 51% stake in P92 IT Solutions Kft. Gloster Infocommunications Plc. tenth acquisition, which will increase to 94% in 2025. Following the transaction, P92 will operate as a subsidiary of Gloster under the name Gloster – P92 IT Solutions Kft. , while Gusztáv Turschl will continue to serve as the company's managing director.

With the acquisition of P92, the Gloster Group has expanded to include a company with a 30-year history, whose client base includes global giants such as Sony Music and Blackhawk Network, as well as medium-sized German companies such as Valuenet[1]. The company has built its success primarily on software developed for the media, telecommunications, financial services, and automotive industries. P92's services are available in the United Kingdom, Germany, and the United States, and the company has offices in Budapest, London, and Palo Alto in Silicon Valley.

Significant export growth on the horizon

The current tenth acquisition fits closely with the Gloster Group's 2025 growth strategy, in which the Company plans to quadruple its 2021 figures through organic growth and the acquisition of software development and cloud companies. P92 is a company with a global corporate customer base that is closely integrated into international operations and has a highly skilled team of developers. With the acquisition, the Gloster Group's headcount will increase from the current 208 to 340, and the group's export revenue is expected to grow by 85%, expanding from 37% to 44% of total revenue.

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About Gloster

Gloster is a broad-spectrum IT service provider listed on the Hungarian stock exchange. Over its more than 20-year history, it has grown from a hardware garage company into a software-focused international medium-sized enterprise. Its founder, co-owner, and chairman of the board of directors is Viktor Szekeres. Thanks to its intensive acquisition strategy, Gloster has successfully completed ten acquisitions since 2018 and expanded its activities to include network infrastructure, network security, the latest monitoring and collaboration solutions, smart buildings, and cloud-based and international software development services. The group currently employs more than 200 people, with audited revenues of HUF 6.349 billion, EBITDA of HUF 940 million, and after-tax profits of HUF 414 million in 2022. Gloster continues to seek IT companies whose acquisition will help it achieve its strategic goals, while continuously integrating solutions that make its existing portfolio more efficient.

Nagytarcsa, August 3, 2023.

Gloster Infocommunications Plc.

Further information:

Dr Eszter Bassola

Investor Relations Officer

bassola.eszter@gloster.hu

[1] https://p92.hu/aboutdetails