Acquisition of shares in Terminal Systems SA
The Shares were purchased from a legal person.
The total cost of acquisition of the Shares amounted to EUR 3.95 million (three million nine hundred and fifty thousand euros).
Terminal Systems is specialized in design and implementation of IT solutions for transportation companies. The company's products include ticket distribution and passenger check-in systems, software for passenger self check-in kiosks, airport ground service management systems, and quality management systems. Among the company's clients are: airlines (Iberia, AirEuropa, Vueling, TAP Portugal, Binter Canarias, Cubana de Aviacion), railway carriers (Renfe), road carriers (Movelia), ferry operators (Tranmediterranea, Balearia) as well as tourist companies (Amadeus, Globalia).
The company employs 19 persons. In 2008 Terminal Systems generated EUR 2.2 million in sales revenues, while its operating profit margin reached almost 40%.
Terminal Systems were acquired as part of building a strong regional group of Asseco South Western Europe to make business in Spain, Portugal, France, and Italy. Earlier this year, in February, Asseco acquired 55% of shares in Raxon Informatica SA seated in Madrid, which currently operates under the name of Asseco Spain SA.
Neither Asseco nor any members of its management and supervisory staff have any connections with the sellers of shares in Terminal Systems or with their management staff.
The acquisition of shares was financed with own funds of Asseco.