Press Releases

Budapest, July 20, 2010 16:45

Magyar Telekom has signed an agreement to buy 100% of Daten Kontor Group.

Magyar Telekom signed an agreement to buy 100% of Daten Kontor Kft., DK Telecom Zrt. and DK Consulting Zrt. (DK Group) on 20 July, 2010. The maximum purchase price of HUF 1.4bn is dependent on the next two years' financial performance and will also be adjusted with the value of the net debt at the closing of the transaction.

DK Group develops, installs and manages IT applications. The company achieved HUF 2.2 billion of consolidated revenues in 2009 and EBITDA of HUF 357 million. With this acquisition Magyar Telekom aims to strengthen further its position in the IT services market.

The closing of the transaction is also subject to Competition Authority approval.