IT and technology company Quality & Reliability SA is entering the cybersecurity sector, with the signing of a legally binding agreement with the sole shareholder of SysteCom SA, acquiring 60% of its share capital.
The value of the transaction, which amounts to 1.5 million euros, will be financed entirely from the funds of the common bond loan, the issuance of which was decided by the general meeting of Quality & Reliability on 03.07.2024.
According to the legally binding agreement, SysteCom, which operates in the IT market, will become a 100% subsidiary of the company QnR, within a three-year period. More specifically, QnR will acquire 60% immediately and the remaining 40% in a three year period.
SysteCom was founded in January 2013, offering digital IT infrastructure and cybersecurity solutions and services. Today, SysteCom is an established, rapidly growing service provider, offering cybersecurity services to banks, telecommunications services, public sector, and other companies. For 2024, the company continued its upward trajectory and its turnover is expected to exceed 3,000,000 euros, EBIDTA to reach 330,000 euros and pre-tax profits to stand at 310,000 euros.
Following the acquisition of SysteCom, QnR is evolving into a dynamically developing Group of IT and technology companies, with a significant presence in the market.
