Swiss broadliner ALSO has acquired for an undisclosed amount the IT division of Hungarian broadliner Ramiris. This acquisition allows ALSO, which is present in the country since 2012 under its own name, to more than double its local marketplace.
Over the past months, ALSO has been growing its footprint systematically, opening a new warehouse last year and successfully expanding its ecosystem. The now acquired part of Ramiris with its IT expertise makes ALSO Hungary one of the major players in the field. With a Total Addressable Market of €4.5 billion and approximately 2500 resellers, the country represents one of the biggest ICT markets in Eastern Europe. The deal presents a triple-win situation, for the Hungarian end users as well as for both companies.
Gustavo Möller-Hergt, CEO of ALSO Holding, said: "acquiring Ramiris follows our successful growth strategy of 'buy and build', continually enhancing reach, expanding our ecosystem and consolidating ALSO's engagement. The region offers great opportunities for resellers, vendors, and us to scale the transactional and develop the consumptional business."