Entersoft S.A. announces the acquisition of 100% of the shares of Optimum S.A. (https://www.optimum.gr/en) on 12.29.2020, implementing the relevant approval of the Board of Directors. The total amount was set to 5.1 million euros, and it will be financed partly from the funds raised by the listing of Entersoft on the ATHEX Main Stock Market and partly from the company’s cash. According to the 2019 Balance Sheet, Optimum had revenues of 2.36 million euros and profits before taxes of 0.44 million euros. Its revenues are increasing for 2020, while at the time of the acquisition, the company has no loans and its positive net cash exceeds 0.7 million euros.
Optimum has been active in niche software applications for the Supply Chain and Logistics for more than 25 years. The company has developed the Warehouse Management System Aberon WMS, warehouse automation tools (Pick by Light, Pick Cart, Voice Picking, Data Collector, etc.), as well as sales forecasting and stock replenishment systems. With this acquisition, Entersoft is strengthening its portfolio of Supply Chain solutions and gaining a leading position in a strategic growing market. Apostolos Theodoropoulos, who until today was the CEO of Optimum, will be the head of the new joint activity in Supply Chain Management software and services.
The Optimum clientele includes large local and multinational companies such as SKLAVENITIS the biggest Food Retailer in Greece, Dixons KOTSOVOLOS the largest electronics retailer, OPAP (betting), JUMBO, COSMOTE, GERMANOS, SARANTIS, DELTA, BARBA STATHIS, TRADE LOGISTICS (INTERSPORT, IKEA) , DHL, VOGIATZOGLOU, ELTA, ERT, CRETA FARM, PET CITY, TASTY FOODS, THE MART, TELEKOM ROMANIA, TELENOR BULGARIA, as well as dozens of other medium and large companies from the Retail and Wholesale Sector as well as Manufacturing and Third-Party Logistics (3PL). In addition, the company is active in other parts of Europe as well as in Canada through a subsidiary. At the same time it participates in important Greek and European funded research projects for the adoption and application of innovative technologies such as Artificial Intelligence (AI) and Machine Learning, Internet of Things (IoT) and Blockchain in the Supply Chain.
Apostolos Theodoropoulos, Chief Executive Officer of Optimum, commented: “After twenty-five years of success, we are moving forward with a strategic agreement for the benefit of our customers and our people. Taking advantage of Entersoft’s market leadership, combined with the know-how of our executives and our advanced technology, we are able to provide even better services to companies that trust and use our solutions, and greater development opportunities for our people. I believe that this acquisition acknowledges the growing position of Optimum in the market and ensures the success of our team in the future.”
Antonis Kotzamanidis, Managing Director of Entersoft, also commented: “Entersoft once again implements its strategy for continuous and sustainable profitable growth, through organic expansion combined with targeted acquisitions of companies with specialized know-how, quality software and excellent customer base. This strategy will continue in the following years, making Entersoft a valuable partner of demanding businesses in the process of their digital transformation.”