03/08/2023/
Extraordinary information - Gloster successfully closes its tenth acquisition
Extraordinary publication
A Gloster Infokommunikációs Nyilvánosan Műköködő Részvénytársaság (company registration no: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A Building A/2. hereinafter referred to as: the Company, Gloster, Issuer) is listed on the Xtend General Business Rules in accordance with the applicable laws and regulations the following information to its Honoured Investors.
Gloster has successfully completed its tenth acquisition Majority ownership of P92 IT Solutions Kft. significantly increases the share of export revenues of the Group
Nagytarcsa, 03.08.2023 - Within the set deadline, Gloster has successfully completed its history's biggest acquisition. The newly acquired will continue to operate under the name Gloster-P92, while the newly acquired IT development company management of the company remains unchanged. With the acquisition, the Gloster Group will directly represent Silicon Valley as well as in London, while sales are expected to increase by a third, and the export ratio is expected to grow by the end of the year thanks to the closing of the transaction Management's expectations in its 2025 strategy.
Listed on the Xtend market of the Budapest Stock Exchange, the Standard Gloster Infokommunikációs Nyrt. is preparing to enter the acquisition of a 51% stake in P92 IT Solutions Kft., which will be to 94% in 2025. Following the transaction, P92 will become Gloster as a subsidiary, Gloster - P92 IT Solutions Kft. Ltd., while the company will continue to be managed by Gusztáv Turschl.
With the P92, a 30-year-old Gloster Group, whose client base includes global giants such as such as Sony Music, Blackhawk Network, and German-based medium-sized companies such as Valuenet[1]. The company focuses on media, telecommunications and financial services, and the automotive industry. A P92 is present in the UK and Germany, and the United States, with offices in Budapest, London and in Palo Alto, Silicon Valley.
Significant export growth on the horizon
The current, tenth acquisition closure is closely fits in with the Gloster Group's 2025 growth strategy of the Gloster Group, which includes organic growth by acquiring software development and cloud companies, it is preparing for its 2021 numbers 2021. P92 is closely embedded in the international operations, with a global enterprise customer base and a very high level of highly skilled development team. With this acquisition, the Gloster Group from the current 208 to 340 employees, the Group's revenues will be is expected to increase to 85% of total revenues from 37% to 44% of total sales.
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About Gloster
Gloster is a broad spectrum IT service provider listed on the Hungarian stock exchange. During its more than 20-year history, it has grown from a hardware garage company to a software-focused international medium-sized company. Its founder, one of the owners and chairman of the board is Viktor Szekeres. Thanks to its intensive acquisition strategy, Gloster has successfully closed ten acquisitions since 2018 and expanded its activities into network infrastructure, network security, state-of-the-art monitoring and collaboration solutions, smart buildings, cloud-based and international software development services. The group currently has a team of more than 200 people, with audited revenues of HUF 6.349 billion in 2022, EBITDA of HUF 940 million and a profit after tax of HUF 414 million. Gloster continues to seek IT companies whose acquisitions will help it achieve its strategic goals, while continuing to build in solutions that will make its existing portfolio more efficient.
Nagytarcsa, 3 August 2023.
Gloster Infocommunications Plc.
More information:
dr. Eszter Bassola
Investors relations officer
