Swiss-based broadliner ALSO has acquired for an undisclosed amount Bulgarian broadliner Solytron. Solytron, with sales of €110 million and a market share of over 30 per cent, is one of the leading IT distributors in Bulgaria. In acquiring the company ALSO is taking the consistent expansion of its Eastern European business further forward. Solytron, founded in Sofia in 1991, trebled its sales revenue between 2011 and 2018 and as a solution distributor with around 120 employees on its payroll sells solutions and products of over 50 leading manufacturers. Solytron also provides comprehensive services, consulting and training.
"Solytron Bulgaria with a market share of over 30 per cent and continuous growth for the past six years is one of the largest and most successful distributors in Bulgaria", says Gustavo Möller-Hergt, CEO of ALSO Holding. "With the acquisition we have sent a further strong signal of our aim to expand in Eastern Europe. As a solution distributor, however, the company provides not only hard- and software but also first-rate service competence. Solytron thereby underpins at the same time our claim to become the leading full service provider to the channel across Europe."
Since 2015 Bulgaria has been one of Europe’s growth rate champions and with its robust growth is well on the way to further reducing economic disparity between it and the other EU member-states. Industrial development plays an important role and new technologies are needed. The continuous strong growth of Solytron Bulgaria reflects this development. By trebling its sales in just seven years the company has made very good use of its opportunities in the market. Its high market share of more than 30 per cent is also a good starting position from which to continue to benefit from the country’s economic development.
Solytron Bulgaria offers a comprehensive portfolio and sells products and solutions of over 50 well-known manufacturers from all over the world. The company thereby provides all of the components required – from smartphones via servers and storage to video surveillance – to set up modern corporate ICT infrastructures. It also offers comprehensive services – from solution advice and installation to training and qualification programmes – and as a distributor provides logistics services to the end customer.
ALSO gains from the acquisition, which is subject to the usual regulatory approval, another strong foothold in an up-and-coming Eastern European market while at the same time laying the foundations for greater innovative strength and competitiveness on the part of the distributor. In addition, ALSO will on completion of the acquisition of Solytron and ABC Data be represented in nearly all East European markets except Russia. The market volume that can be addressed in these countries amounts to around EUR 30 billion – with highly promising growth prospects for the leading full service provider.