The transaction between Delta Group and Est Media, announced on 30 July, has been successfully closed, with the listed company acquiring the IT company Delta Systems Kft. with a turnover of nearly HUF 16 billion and the holding company of Delta Group becoming the owner of more than 30 percent of the listed company. The listed company will be able to continue its growth strategy with a new, stable ownership base and fundamentals and a strengthened management team.
The cash part of the purchase price of Delta Systems Kft. has been settled, thus successfully closing the transaction between Delta Group and Est Media announced in the summer, the parties announced on the website of the Budapest Stock Exchange. In order to settle the remaining part of the purchase price, the listed company will issue a block of shares representing more than 30 percent of the shares to Delta Group's holding company, Deltagroup Holding Zrt.
Delta Systems Kft., which closed the 2019 financial year with a turnover of nearly HUF 16 billion and is a leader in serving the IT needs of institutional and corporate customers, will be transferred to Est Media Plc. following the registration of this issue. At the same time, Deltagroup Holding Zrt. will become a shareholder with a 30% stake in the listed company.
The name of the listed company will be changed to Delta Technologies Plc. as of today, and its Board of Directors will be joined by new members Zsolt Bártfai, Zoltán Csontos, István Hartmann and Levente Pércsi, members of the Delta Group management and owners. The company will also relocate its headquarters to Delta Group's offices at 70-74 Róbert Károly körút, Budapest.
With the closing, the listed company can continue to pursue its growth strategy with new and stable ownership, strong fundamentals and capable management. The company aims to become a leading IT player in the Central and Eastern European region and in the field of industrial digitalisation. To this end, it plans to make acquisitions that fit into its portfolio, expand its own range of products and services and further increase its financial results.
