In accordance to article 10 of Law 3340/2005 and to article 2 of decision 3/347/12.7.2005 of CMC, SingularLogic S.A. informs the investors for the recent business actions in respect to the general business expansion planning of the Group.
- Today an agreement was signed for the acquisition of 70% of the shares of the company "DEMSTAR BUSINESS APPLICATIONS LTD" for a price of 406.000 Euros. "DEMSTAR BUSINESS APPLICATIONS LTD" is located in Cyprus providing integrated business software solutions for large and small-medium enterprises for the private and public sector. The finalization of the agreement is subject to the successful completion of the company's economic and legal audit (due diligence), expected to be concluded within a month. The aforementioned acquisition is expected to affect positively the results of SingularLogic Group, strengthening its presence in the market of business software solutions in Cyprus and Middle East.
- On 2/10/2007 SingularLogic SA acquired 49% of the shares of the company "SYSTEM SOFT S.A." for an amount of 295.000 Euros, ensuring also management control. "SYSTEM SOFT S.A" is active since 1995 in providing integrated business software solutions for small-medium enterprises of the private sector, being also a SingularLogic business software solutions licensed agent (SBC - SingularLogic Business Center). The company's customer base consists of nearly 2,000 enterprises from all business sectors (industry-trade-services). Its annual revenue amounts 1.5 mln Euros.