Press Releases

Budapest, November 2, 2010 11:00

Magyar Telekom Plc. was granted the Competition Authority's approval to acquire Daten-Kontor group (DK) that develops, installs and manages IT applications. With this acquisition Magyar Telekom aims to strengthen further its position in the IT services market.

The acquisition, approved by the Competition Authority, is in line with Magyar Telekom's growth strategy, i.e. to further strengthen the role of IT services and on the other hand to focus on cost effective operation. "We envisage significant synergy potentials between DK's highly educated and experienced development team, mainly working in Pécs, and Magyar Telekom's IT services that are provided at a high professional level with the support of internationally acknowledged professional relations" - said István Papp, Magyar Telekom Plc.'s Chief Officer, manager of T-Systems. "We hope that DK effectively supports that Telekom's Corporate Services Business Unit may provide a broadening product portfolio and higher level of IT services to its extending scope of customers."


DK group has a firm background in the field of development, installation and management of IT applications, both in Hungary and abroad. It also has a significant role in the development of customized applications for the public administration, the industry and transportation sector. It implements the products of major international software manufacturers and adds its own special solutions to them, mainly in the field of customer relations, billing and technical inventory systems.

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 consolidated revenue of the group was HUF 2,2bn in 2009 whereas the EBITDA was HUF 357 million. 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. The transaction is expected to be closed at the end of February, 2011 that is preceded by the merger of the tree, currently independently operating companies of DK group into a single legal entity and the fulfillment of other contractual obligations.