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Siemens Business Services buys Elas

AUSTRIAN company Siemens Business Services (SBS) has bought Prievidza-based firm, Elas. Following last year’s link-up with HT Computers (HTC) Elas achieved revenues in excess of Sk2 billion (€51.6 million) in 2004, according to the daily SME.

Siemens sees the purchase as a way of acquiring clients in the banking, insurance and telecommunications sectors. The company will also gain excellent access to the regions because part of the purchase is a Slovak network of HTC branches.

"The acquisition has yet to be approved by the Slovak Antitrust Office (PMÚ). Nevertheless, we expect the PMÚ to okay the acquisition before June 1," Hanns-Thomas Kopf of SBS Austria, told the SITA news agency.

He said that the both parties involved in the acquisition agreed not to reveal the sum SBS has paid for Elas.

SBS Austria plans to incorporate the companies into its Slovak subsidiary, SBS Slovensko. The company will therefore become one of the leaders in complex IT solutions and services on the Slovak market.

Compiled by Beata Balogová from press reports
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