Epsilon Net announced the acquisition of 51% in the company with DIGITAL4U, which is active in the field of e-Commerce & Digital marketing.
DIGITAL4U, as noted in the relevant announcement, was founded in 2013, with the aim of developing a comprehensive Internet Communication Strategy for every business. He has extensive experience in creating eshop / e-Commerce solutions, both in construction / optimization and promotion, offering a full range of solutions, depending on the goals of each business.
The company operates throughout Greece, employs 32 specialized executives and specializes in the following areas:
• E-Shop & e-Market Solutions
• Web Design & Development
• Advanced e-Commerce Solutions
• B2B Platform
• Marketing Performance
• Digital Branding
• Search Engine Optimization (SEO)
During the nine years of operation, DIGITAL4U managed to attract some of the most popular brands in the Greek market and to introduce innovative solutions in the constantly evolving field of internet marketing. She has won awards in both international and domestic competitions for her projects in e-Commerce and SEO.
DIGITAL4U turnover for the year 2021 amounted to 1.36 million Euros, increased by 27% compared to 2020, while the estimated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 229 thousand euros, increased by 75% compared to 2020.
The company on 31/12/2021, had zero bank debt while its cash and cash equivalents amounted to 314 thousand euros.
51% of DIGITAL4U will be transferred to EPSILON NET. The total price for the acquisition and acquisition of 51% of the company will amount to 0.5 million Euros.
Also, with the agreement of the parties, in the General Meeting that will be convened on 14/04/2022, it will be decided to increase the Share Capital of the company after the completion of which the percentage of Epsilon Net will rise to 60% in the share of DIGITAL4U.
It should be noted that the remaining percentage of the company still belongs to its main founders, including Mr. Christos Kostoulas, who will continue to perform his duties as CEO, while maintaining 24.5% of DIGITAL4U (after the expected increase of the Share Capital will be 20%)
The specific acquisition of the company’s methodical moves to expand to complementary products and services, strengthens the company’s strategy to provide integrated solutions to its customers, implements EPSILON NET’s design for entry into specific vertical markets, providing innovative solutions aimed at expansion of its customer base, and in addition is a key step for the Group’s entry into the rapidly growing market of e-shop / e-Commerce & Digital Marketing, providing complete end-to-end solutions for every business.
The Epsilon Net Group consistently follows its business planning at the level of continuous organic development, while at the same time it proceeds with acquisitions and technological collaborations in order to increase its market shares and total financial figures.
The strategic goal of its management remains, the corporate announcement concludes, “the continuous production of value for the staff, associates and shareholders, as the largest Business Software Group in Greece”.
Source: Capital
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