The Board of Directors of EPSILON NET S.A., announces, the acquisition of all minority shares of its subsidiary DATA COMMUNICATION S.A. (DATA COMMUNICATION S.A. SOFTWARE DEVELOPMENT COMPANY). After this acquisition EPSILON NET S.A Is the only shareholder of DATA COMMUNICATION S.A.
Especially, EPSILON NET S.A. acquires, 750,000 equity shares of DATA COMMUNICATION S.A., from 2 legal entities, representing 20% of the share capital of DATA COMMUNICATION S.A. Specifically EPSILON NET acquires 412,500 shares from EASMUIN HOLDINGS LTD representing 11% of the share capital of DATA COMMUNICATION S.A, for 302,486.25 euros and 337,500 shares from DELMAR CONSULTING LTD, representing 9% of the share capital of DATA COMMUNICATION S.A for 247,488.75 euros.
It is reminded, that EPSILON NET S.A acquired, on October 2020, 3,000,000 shares out of a total of 3,750,000 equity shares of DATA COMMUNICATION S.A, representing 80% of the share capital of DATA COMMUNICATION S.A.
The total amount for the prementioned acquisition of 750,000 shares was 549,975 euros and it was fully repaid upon signature of the relative transaction documents.
DATA COMMUNICATION, founded in Athens in 1987, is among the top Greek software development companies and a strategic partner of Microsoft. The company has two areas of activity:
• Development of own Business, Accounting, HRM and Payroll software solutions
• Development of customized vertical market software solutions and implementations based on Dynamics 365 Business Applications, Microsoft Power BI and SharePoint platforms.
Check out the announcement here.