Announcement for the acquisition of Singular Logic

EPSILON NET SA announces the agreement for the sale (SPA) of 99.61% of SINGULAR LOGIC SA from the companies MARFIN INVESTMENT GROUP SA HOLDINGS (MIG) and TOWER TECHONOLOGY HOLDINGS (OVERSEAS) LIMITED . The shares will be transferred equally to the companies EPSILON NET SA and SPACE HELLAS SA.

Total exchange for the acquisition of 99.61% of SINGULAR LOGIC amounted to 18.05 mln. Euros and will be fully repaid upon completion of the transaction, while an advance payment equal to 1.805 mln. Euros has already been paid.

SINGULAR LOGIC is transferred free of loan liabilities as well as any other liabilities related to loans from Piraeus Bank and MIG.

EPSILON NET SA proceeds to the acquisition of SINGULAR LOGIC – in creative cooperation with SPACE HELLAS SA -, implementing a joint investment vision and laying the foundations for SINGULAR LOGIC to become the central pillar of business software and digital transformation of Greek enterprises.

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