The Czech subsidiary of Synergon Informatics Plc. was sold – announced the company on the website of the Budapest Stock Exchange (BSE). For the subsidiary – Infinity S.A. – the company received 1.5 billion HUF. According to the press release the sale of the subsidiary serves as a good base for the start of acquisitions due this financial year, based on the strategy of Synergon.
The company also stated that although Infinity was a profitable business in the recent years, the purchase price is considered to be very favourable, considering the current mood on the IT market and harsh economic situation. Before the sale further growth opportunities were also assessed on the Czech market. Based on that, major growth could have been achieved with the acquisition of other enterprises, as with the merger of IT Systems in 2011 the company now covers vast majority of the system integration sector in the country. Organic growth could have been only achieved at the expense of major hardships and costs that is the reason why the leadership of Synergon opted for the sale of Infinity.