INFORM LYKOS Romania, has signed a majority acquisition agreement for SISTEC NEXT DOCS and SISTEC CONFIDENTIAL, companies which are operating in the Romanian market offering Document Management, Scanning, Digital transformation and Electronic Archiving Services

INFORM LYKOS Romania (INFORM LYKOS S.A), a Romanian subsidiary of INFORM P. LYKOS S.A. Greece, on the 8^th of August 2019, signed an agreement to acquire the majority stake in SISTEC NEXT DOCS S.R.L. and SISTEC CONFIDENTIAL S.R.L. More specifically INFORM LYKOS S.A. will acquire 65.07% of SISTEC NEXT DOCS S.R.L. and 65.45% of SISTEC CONFIDENTIAL S.R.L. The finalization of the agreement will be subject to the successful fulfillment of the requirements set forth in the Share Purchase Agreement (SPA).  The estimated time of finalization will not exceed a 3 month period.

By carrying out such an investment, INFORM extends the services range in its portfolio, currently being offered to existing customers, as well as the ability to enhance new business development by providing document management services (including electronic archiving, workflow and business process development, scanning, internal form creation, indexing, process control and access), as well as physical archiving and certified secure document shredding.

The above mentioned services are fully connected and complementary to existing INFORM activities related to data management reproduction in either hard copy or digital form.

SISTEC NEXT DOCS and SISTEC CONFIDENTIAL have been active in the Romanian market for the past five (5) years with a successful track record and have a significant market share in their respective business industries. Their turnover for 2018 amounted to €2.8 million and EBITDA €0.8 million.  Their main clients include Banca Transilvania (the largest bank in Romania), Raiffeisen Bank, Unicredit and others. In addition, similar services are provided in the sectors of Insurance, Public, Telecommunications, Energy, etc.

The existing management team, minority shareholders of SISTEC NEXT DOCS and SISTEC CONFIDENTIAL, as well as their specialized staff, will remain, in conjunction with the INFORM Management Team, joining their forces in the further developing of the business and the smooth integration into the Group.

The acquisition price for 65% of the shares of the above mentioned companies amounts to €3.5 million and will be paid following the successful fulfillment of the terms of the agreement.

Manolis Kontos, Managing Director of INFORM Romania, said: "We are pleased to complete this acquisition of a majority stake, as it will allow us to expand our range of solutions and consequently expand our customer base by integrating SISTEC NEXT DOCS and SISTEC CONFIDENTIAL into our organization. These investments, on our part, prove our potential as well as our clear strategy in strengthening our presence in the Romanian market".

About INFORM

INFORM was founded in 1897, it has been listed on the Athens Stock Exchange since 1994 and today it has a leading presence in Central and Eastern Europe in the field of Information Management, with production units in Greece, Romania and Albania. It is internationally active in the field of booklet management, security brochure and Business Process Outsourcing, providing printing and invoicing services, electronic presentation of accounts and print management for Banks, Telecommunications, Public Sector and Industrial / Commercial Companies and currently employs approximately 380 employees.

INFORM is a member of the Austria-based AUSTRIACARD Group, an international group active in Information Management under the brand INFORM, as well as in the digital security sector under the brand AUSTRIACARD with two additional smart card production units, identities, etc. in Austria and Romania, top data security, certified by international organizations such as Visa, MasterCard, Diners, etc., as well as five smart card personalization centers in Greece, Austria, Poland, Romania and Turkey.

For more Information, visit www.austriacard.com