SLOVAK Telekom has completed the acquisition of a majority stake in the IT firm PosAm. Slovak Telekom had announced in early February that following regulatory approval it had become the 51 percent shareholder in PosAm after the two companies signed an agreement to transfer the stake on January 29. PosAm is continuing to operating under its current name, as an independent legal entity, the SITA newswire wrote.
The joint strategic goal of both companies is to offer a comprehensive portfolio of managed IT outsourcing services to firms and the public administration based on Slovak Telekom’s data services and PosAm’s application solutions.
Slovak Telekom announced the acquisition of a stake in PosAm in October of 2009. The Slovak Antitrust Office approved the transaction at the end of last year. With the acquisition, Slovak Telekom has received key competencies in the sphere of managed IT services and application development.
PosAm has operated on the Slovak market since 1990 and provides software solutions and services and infrastructure services to corporate clients. It is a partner of Citrix, Hewlett-Packard, IBM, Microsoft and Oracle. Its subsidiaries are located in Banská Bystrica, Levice, Košice and Žilina and PosAm also has an affiliation in Prague. It employs approximately 240 people.
10. May 2010 at 0:00 | Compiled by Spectator staff