The company was listed on the Alternative Market of the Athens Stock Exchange with a turnover of 7.1 million euros and net profits of 1.1 million euros.
The gradual expansion outside Greece follows, with Antonis Kotzamanidis establishing subsidiaries in Romania, Bulgaria and the United Arab Emirates, while in 2020 the transition from EN.A. in the Main Market was completed.
The starting price of the share was set at 1.1 euros (adjusted to the stock split).
Over the next four years the evolution of Entersoft is truly impressive, with the founder and CEO moving on to successive acquisitions of smaller businesses or software operations.
The result is that the turnover of 2023 closes at 37.8 million euros and the net profitability jumps to 7.7 million euros. This is an explosion of +432% and +600%, respectively, in relation to 2008.
In March 2024, the Panos Germanos – Rucio alliance reached an agreement with the main shareholders, including Antonis Kotzamanidis, for the acquisition of the majority stake at the price of 8 euros, at least 600% higher than the listing price in 2020.
This amount translates into an amount of money of more than 23 million euros for the CEO of the company, who controlled 9.6% of the share capital.
Not bad at all if you consider that Entersoft’s initial share capital, back in 2002, totaled a few hundred thousand euros.
