Adroit Infotech to Acquire Majority Stake in Croatia's Verso Altima Group
Adroit Infotech Limited has entered a non-binding agreement to acquire a majority stake in Croatia-based Verso Altima Group. The deal aims to boost consolidated revenue to $23-25 million (approx. ₹200-250 Crores) and create a global SAP BRIM and telecom engineering powerhouse. Funding will come from internal accruals and future equity issuances.
The acquisition of a majority stake in another company, leading to a projected substantial increase in consolidated revenue and expansion into new markets, is a material event with a significant impact on the company's future operations and financial performance.
The announcement details a strategic acquisition that is expected to significantly enhance the company's revenue, global presence, and service offerings in key IT areas, indicating a positive development for the company.
Adroit Infotech Limited has announced a non-binding agreement to acquire a majority equity stake in Verso Altima Group D.O.O., a business integrator and digital solutions provider based in Zagreb, Croatia. This acquisition is expected to significantly enhance Adroit Infotech's global presence and service offerings.
Verso Altima Group currently has a standalone revenue of approximately €13 million. Upon successful completion of the transaction, Adroit Infotech's consolidated revenue is projected to reach between $23-25 million USD (approximately ₹200-250 Crores), with a combined workforce of over 400 employees. The transaction is structured to be financed entirely through internal accruals and proceeds from a Preferential Issue and Rights Issue, with no third-party debt involved.
The strategic rationale behind the acquisition includes the creation of a global practice in SAP Billing and Revenue Innovation Management (BRIM) and advanced telecom engineering. The combined entity aims to leverage Verso Altima Group's European on-site presence with Adroit Infotech's India-based technical expertise to create an optimized on-site/offshore delivery model. This integration is expected to enhance resource utilization and corporate profitability.
The transaction is contingent upon the execution of definitive Share Purchase Agreements (SPA), satisfactory completion of legal and financial due diligence, board authorizations, and customary regulatory approvals in both India and Croatia. The acquisition is expected to establish a commercial anchor in Continental Europe for Adroit Infotech, strengthen its SAP partnerships, and diversify its engineering capabilities into areas like IoT and advanced networking.
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Adroit Infotech Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Adroit Infotech Limited. Read the original for the full detail.