Entersoft S.A. announced today the completion of the acquisition procedures for the 95.38% shares of RETAIL LINK S.A..The value agreed was paid in cash and amounts to EUR 448,881.81. The acquisition was realized through Zenon Automation Technologies S.A. complying with the 16/11/2009 approval of the Board of Directors.Zenon Automation Technologies S.A. is a daughter company of the listed ZENON S.A.. This is the second acquisition realized by Entersoft S.A. within 2009. The first one was Nova Consulting in June.
The acquisition allows Entersoft S.A. to enter dynamically into the market of electronic invoicing (e-Invoicing), exchange of electronic documents (e-Ordering) and the market of Software as a Service supporting the supply chain management. Both sectors are expected to grow significantly over the coming years.
Retail Link S.A. serves an important number of very well known retail companies along with their suppliers. Companies like, Super Market Veropoulos, Galaxias, “Alpha-Beta” Vassilopoulos, Carrefour, Sklavenitis, Massoutis, Atlantic and their supply chain, such as KRAFT FOODS Hellas, RILKEN, SCA HYGIENE, BOLTON Hellas, Athenian Brewery, BIC BIOLEX, MISCO Barilla, AGRINO, L’OREAL Hellas, Johnson & Johnson, ELGEKA and many more.
Retail Link S.A. employs 13 people, with 31/12/2008 equity capital of EUR 86,469.02, no bank loans, and a turnover of EUR 644,795.42. This year the company no bank loans, as well. The financial statements of the company will positively influence Entersoft S.A.’s next year results, due to the expected growth of Retail Link S.A. and the synergies that emerge.