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Entersoft: Preliminary agreement signed for 100% acquisition of Nova Consulting

Entersoft signed a preliminary agreement to acquire 100% of NOVA Consulting SA.The total agreed price is 400,000 Euros and paid in cash.According to a notice of Entersoft, which is listed on the Alternative Market of ATHEX, the NOVA Consulting employs 13 people, has capital of 240,000 Euros and no loans, while in 2008 its turnover exceeded EUR 1.2 million.Nova Consulting is one of Entersoft’s commercial partners which have developed additional expertise and software applications that run on mobile devices Personal Digital Assistant (RDAs), Smart Phones and Tablet RCs (Mobile Applications).Its clientele includes companies such as Leaseplan, Neoset, the Longchamp network, Livanis publishing house and 70 other SMEs.


With this acquisition Entersoft significantly enhances its services to its customers and partners; dynamically entering the field of mobile applications.

As noted in the same announcement, the acquisition is expected to positively affect the growth of the company’s revenue in 2009.The acquisition will be finalised after the completion of all necessary legal and financial due dilligence.

Entersoft has subsidiaries in Bulgaria and Romania, as well as export activities in Cyprus.In 2008 ended with revenues increasing by 26% and profit after tax 42% to 7.1 million and 1.1 million respectively.