Hungary's largest domestically-owned Microsoft cloud services partner is created

Extraordinary information

A Gloster Infocommunication Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A A/2. ép.; hereinafter referred to as the Company, Gloster) is the owner of the relevant and the General Business Rules of the Budapest Stock Exchange Gloster hereby informs the Honoured Investors of the following.

Comes from Hungary's largest home-grown Microsoft cloud services partner

A Gloster Cloud Zrt. and Systemfarmer Zrt. are the owners of the companies have signed an agreement to merge the companies, making this the largest Microsoft the largest domestic cloud services partner company in the world. The aim of the transaction is to make the combined company Hungary's market leader and within a few years to become the a dominant player in the region.

In the photo from left to right: Viktor Szekeres, Chairman of the Gloster Infocommunications Plc. Board; András Téglás, Systemfarmer Zrt. board member; László Földesi, Systemfarmer Zrt. board member after the signing ceremony

The professional team of nearly 25 people at Systemfarmer Zrt. to provide the market with high quality Microsoft cloud-based IT services to support the digital transformation of its corporate customers by solutions such as Microsoft 365, Microsoft Azure, Dynamics 365, Power Platform or Copilot. In addition, it offers software development and deployment services project management services, IT audit, IT operations and consulting and IT security solutions. The following services are offered the team and competencies in artificial intelligence and IT security.

Systemfarmer in the digital transformation of more than 400 organisations and has received numerous awards from Microsoft, including including multiple Gold and four Silver Partner certifications and the "Microsoft Partner of The Year" and four "Fastest Partner of The Year" awards Growing Cloud Company" award four times. Some of the Portfolio's best known clients include publisher Net Média Zrt., accommodation portal Szallas.hu, US-based Transcend Software Inc., the world's leading provider of design automation software and international employment agency WHC Group.

The transaction takes place in two steps: after the contract is closed a share swap will take place, after which the companies will be merged as of 1 January 2025. Gloster Cloud Zrt. and will continue to be known as Gloster Group Cloud business of the Gloster Group, complemented by the current Systemfarmer László Földesi and András Téglás, the current heads of Systemfarmer. Until the end of 2024 the parties will use the ten months until 2024 to thoroughly prepare the merger the renewed organisation, which will now have almost 40 members, will be will be able to serve the two companies at a higher level, faster and more flexibly. customers of the two companies. The transaction will be greatly facilitated by the fact that the two companies' activities overlap to a significant extent. Systemfarmer's financial results were first reported in the consolidated accounts of the Gloster Group in 2024.

Present announcement is the eleventh transaction of Gloster Infocommunications Plc. and the eleventh part of the strategy updated on 7 November 2022, which also included the organic growth of cloud and software development companies and software and services integration. The move is in line with the strategy announced on 27 November 2023 of 200 million business development programme 202323. As part of this plan, Gloster will launch a unified domestic sales the Systems Integration and Cloud sales teams into a single domestic sales team. teams, who will now market the offerings of both divisions. The management as a result of this measure and the Systemfarmer merger, the Cloud financial results are expected to grow more than expected in 2024. This is This is supported by research from market research firm Statista, which expects growth of almost 50% in the public cloud market by 2028. cloud market by 2023 and around 160% growth in the 160% growth in the artificial intelligence market by 2030.

According to László Földesi: "Although we have long been in the same field We have been competing for a long time, but our teams are strong in other areas, so we complement each other very well. With the merger we can work in a much more organised way in a larger and professional team of professionals. Our clients' satisfaction and success is important and together we can further strengthen our position in this area and more time for international expansion."

Szekeres Gloster's President Viktor said of the transaction, "Cloudy our cloud subsidiary Gloster Cloud Zrt. and Systemfarmer Gloster's cloud services company Gloster and Microsoft Cloudster is Hungary's largest domestically owned Microsoft cloud services partner. opening a new chapter in the Hungarian and regional cloud market. Our goal, to be the market leader with our combined strengths, enabling our customers to become digital digital transformation with our innovative solutions. This merger highlights our commitment to technological progress, our dedicated team of professionals continuous expansion and support for our customers' success."

About Gloster

Gloster on BSE listed in the standard category of the BSE, offering a wide range of international IT international IT service provider. In its more than 20-year history, Gloster has grown from a hardware garage company to a software to an international medium-sized company with a software focus. Gloster is a fast-growing eleven transactions since 2018, and has grown to expanded its activities in systems integration, cloud solutions and and international software development services. The Group is currently currently has a team of nearly 350 people, with the latest (Hungarian Accounting Standards 2022 audited consolidated financial statements (according to the Hungarian accounting standards), its turnover is 6,439 billion HUF, EBITDA of 940 million HUF, profit after tax of 414 million HUF HUF 414 million.

Nagytarcsa, 16 February 2024.

Gloster Infocommunications Plc.

More information:

Dr Bassola Eszter

Investors relations officer

bassola.eszter@gloster.hu