ALSO Holding AG: ALSO acquires largest Bulgarian IT distributor Montag, 15. April 2019 - 07:01

ALSO Holding AG / Key word(s): Mergers & Acquisitions
ALSO Holding AG: ALSO acquires largest Bulgarian IT distributor

15-Apr-2019 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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     Media release
ALSO acquires largest Bulgarian IT distributor

Solytron Bulgaria, with sales of EUR110 million and a market share of over
30 per cent, is one of the leading IT distributors in Bulgaria. In acquiring
the company ALSO is taking the consistent expansion of its Eastern European
business further forward. Solytron, founded in Sofia in 1991, trebled its
sales revenue between 2011 and 2018 and as a solution distributor with
around 120 employees on its payroll sells solutions and products of over 50
leading manufacturers. Solytron also provides comprehensive services,
consulting and training.


«Solytron Bulgaria with a market share of over 30 per cent and continuous
growth for the past six years is one of the largest and most successful
distributors in Bulgaria», says Gustavo Möller-Hergt, CEO of ALSO Holding AG
(SIX:ALSN). «With the acquisition we have sent a further strong signal of
our aim to expand in Eastern Europe. As a solution distributor, however, the
company provides not only hard- and software but also first-rate service
competence. Solytron thereby underpins at the same time our claim to become
the leading full service provider to the channel across Europe.»


Since 2015 Bulgaria has been one of Europe's growth rate champions and with
its robust growth is well on the way to further reducing economic disparity
between it and the other EU member-states. Industrial development plays an
important role and new technologies are needed.


The continuous strong growth of Solytron Bulgaria OOD reflects this
development. By trebling its sales in just seven years the company has made
very good use of its opportunities in the market. Its high market share of
more than 30 per cent is also a good starting position from which to
continue to benefit from the country's economic development.


Solytron Bulgaria OOD offers a comprehensive portfolio and sells products
and solutions of over 50 well-known manufacturers from all over the world.
The company thereby provides all of the components required - from
smartphones via servers and storage to video surveillance - to set up modern
corporate ICT infrastructures.


It also offers comprehensive services - from solution advice and
installation to training and qualification programmes - and as a distributor
provides logistics services to the end customer.


ALSO gains from the acquisition, which is subject to the usual regulatory
approval, another strong foothold in an up-and-coming Eastern European
market while at the same time laying the foundations for greater innovative
strength and competitiveness on the part of the distributor. In addition,
ALSO will on completion of the acquisition of Solytron and ABC Data be
represented in nearly all East European markets except Russia. The market
volume that can be addressed in these countries amounts to around EUR 30
billion - with highly promising growth prospects for the leading full
service provider.


Direct link to media release: https://also.com/goto/20190415en


Contact person ALSO Holding AG:
Ketchum Pleon GmbH
Manuela Rost-Hein
Phone: +49 211 9541 2160
E-Mail: also.press@ketchumpleon.com


ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings providers and buyers of
the ICT industry together. ALSO offer more than 550 vendors of hardware,
software and IT-services access to over 100 000 buyers, who can call a broad
spectrum of other customized services in the logistics, finance, and IT
services sectors, as well as traditional distribution services. From the
development of complex IT landscapes, the provision and maintenance of
hardware and software, right through to the return, reconditioning and
remarketing of IT hardware, ALSO offers all services as a one-stop shop.
ALSO is represented in 18 European countries and generates total net sales
of approximately 9.2 billion euros with around 4 000 employees in the fiscal
year 2018. The majority shareholder of ALSO Holding AG is the Droege Group,
Düsseldorf, Germany. Further information is available at https://also.com


Droege Group
Droege Group (founded in 1988) is an independent advisory and investment
company under full family ownership. The company acts as a specialist for
tailor-made transformation programs aiming to enhance corporate value.
Droege Group combines its corporate family-run structure and capital
strength into a family-equity business model. The group carries out direct
investments with its own equity in corporate spin-offs and medium-sized
companies in "special situations". With the guiding principle "execution -
following the rules of art", the group is a pioneer in execution-oriented
corporate development. Droege Group follows a focused investment strategy
based on current megatrends (knowledge, connectivity, prevention,
demography, specialization, future work, shopping 4.0). Enthusiasm for
quality, innovation and speed determines the company's actions. In recent
years Droege Group has successfully positioned itself in domestic and
international markets and operates in 30 countries. More information:
https://www.droege-group.com


Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of the ALSO management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular the results, financial situation, and performance of our
Group. The Group accepts no responsibility for updating these
forward-looking statements or adapting them to future events or
developments.


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