S&T Acquires Croatian Network Specialist InfoNET Projekt

S&T strengthens its position on the Croatian IT Market

December 13, 2005. Zagreb – Croatia; Vienna – Austria. S&T System Integration & Technology Distribution AG has taken over the Croatian company InfoNET Projekt d.o.o., the largest provider of IT network and security solutions in Croatia.

The highly specialized IT systems integrator InfoNET Projekt, which has been operating in Croatia since 1994, has proven expertise in the design, development, installation and maintenance of complex communications networks and security solutions. Croatian “Top 100” companies such as Privredna Banka Zagreb, Croatian Telecom, Hypo Banka Croatia and the Croatian Ministry of Defence, the Ministry of the Interior, the National Bank and the University of Zagreb are among its customers.

With the acquisition of InfoNET, which will perfectly complement S&T’s existing systems integration business, the company is strengthening its presence in the IT service markets of Croatia and Southern and Eastern Europe.

"This acquisition marked another important step toward our becoming the leading provider of network and security solutions also in the Croatian IT market. The takeover of InfoNET gives us ownership of a highly profitable and healthy company and in 2006 we are expecting additional revenues of EUR 5 million as a result," said Christian Rosner, CEO designate of S&T AG.

The parties have agreed to maintain confidentiality regarding the purchase price. The number of S&T employees in Croatia will rise to more than 110.