Profile is in an advanced stage of negotiations with Algosystems, according to an announcement by the listed company, a fact that confirms the intense mobility of acquisitions and collaborations that the IT industry is experiencing.
As Profile’s management emphasized, it is in discussions with the majority shareholders of Algosystems regarding the acquisition of their entire participation in the company, namely the majority percentage of at least 85% of all its shares and voting rights.
The parties are in advanced discussions for the finalization of the General and Special Terms and Conditions of the transaction (Share Purchase Agreement). Based on the current data, the company’s Management estimates that the implementation of the transaction will be completed in the near future.
Headquartered in Kallithea, Attica, Algosystems has been operating for 35 years in Greece and 7 years in Qatar through its subsidiary as a System Integrator. It offers diversified solutions, such as Information Technology and Communications, Automation and Control, and Metrology, with technology as its common component.
On its part, the Profile Group has emphasized that it aims to more than double its revenues in the next three years 2025-2028, through expansion in existing and new markets, investments in innovation, acquisitions and partnerships (M&A) and further improvement in efficiencies.
