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Croatian T-HT to take over IT co Combis for EUR26m-EUR32m.

MANews-(C)2009-2010

Croatian telecom group T-HT (ZSE:HT-R-A) said Friday it has agreed to acquire local IT company Combis for between EUR25.5m (USD34m) and EUR31.5m, depending on the achievement of certain business targets for 2010 and 2011.

The acquisition is line with T-HT's strategy to become a significant provider of information and communications technology and services and will expand its current portfolio of products and services, T-HT said in a statement.

The deal, subject to antitrust regulator approval, is expected to close in the second quarter of the year.

According to preliminary unaudited results, Combis generated a consolidated revenue of HRK330m (USD60.8m/EUR45.4m) for 2009.

T-HT is majority-owned by Germany's telecom major Deutsche Telekom (ETR:DTE).

Country: Croatia;

Sector: IT/Online Services

Target: Combis usluge integracija informatickih tehnologija doo

Buyer: T-Hrvatski Telekom dd

Deal size in USD: 34m-42m

Type: Corporate acquisition

Status: Agreed

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Publication:M & A Navigator
Date:Mar 26, 2010
Words:148
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