ALSO Acquires Solytron to expand into Bulgaria
Swiss-based broadliner, ALSO, has acquired Solytron for an undisclosed amount. Solytron, with sales of €110 million and a market share of over 30 per cent, is one of the leading IT distributors in Bulgaria. This acquisition gives ALSO 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.
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.
Gustavo Möller-Hergt, CEO of ALSO Holding, said, “With this acquisition, we have sent a strong signal of our aim to expand and consolidate our presence in Eastern Europe. As a solution distributor, we provide first-rate service competence in addition to products. Solytron underpins our claim to become the leading full-service distributor to the channel across Europe.”
On completion of the acquisition of Solytron and ABC Data (subject to regulatory approvals), ALSO will now 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.