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New Frontier Holding plans new acquisition in Romania

Austrian New Frontier Holding company, which took over Romanian IT Romsys system integrator at the end of 2007, could acquire another company this year.

Gunther Meyringer, General Manager of Romsys, says that New Frontier Holding plans to buy up to six companies in the region. 'We are not interested in minority share packages. Our acquisition strategy targets packages of 51-100 percent,' Meyringer said, according to Business Standard. According to the company's General Manager, funds for acquisitions are from the company's management, strategic investors in IT, and bank loans. New Frontier Holding acquired 60 percent of the Czech Profinit software company in October 2007. According to Meyringer, the growth strategy for IT Romsys includes a 15-25 percent evolution year-on-year, based on the Romanian IT market potential. 'The advance should come from infrastructure projects, software and consulting. Romsys is a healthy mix between two business lines, each representing 50 percent of total income, a balance we plan to maintain,' Meyringer said. Sursa: http://www.rompress.ro

Tags: holding frontier

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