ECONOMY

Intracom sells Intrasoft to Danish firm Netcompany

intracom-sells-intrasoft-to-danish-firm-netcompany

Athens-listed Intracom has struck the biggest deal in information technology in Greece by selling 100% of its IT subsidiary Intrasoft to Denmark’s Netcompany.

The 235 million-euro transaction also includes loans whose short-term section, refinanced in January 2018, amounts to €46.2 million.

Intracom will receive €166.8 million in cash plus Netcompany shares worth €18 million. The deal is expected to be completed by the end of the year and to support the strategy of Intracom to be transformed into an investment company.

Netcompany’s capitalization amounts to some $4.9 billion.