Storm of M&As in the IT sector

Mergers and acquisitions that are accompanied by the entry of foreign players into the Greek market have tended to be the rule for at least the last three years in the IT sector.

The mandatory public offer jointly submitted by the founder of Epsilon Net, Ioannis Michos, by National Bank - which controls 7.5% - and by the fund General Atlantic, to acquire 37.08% of the publicly traded IT company, adds to the strong action in the IT sector in the first four months of this year.

On Tuesday, the subsidiary of the foreign fund Ginger Digital BidCo took the decision to issue two convertible bond loans totaling 250 million euros. Through the bond, BidCo is expected to finance the greater part of the amount required to acquire 37.08% or 20,100,000 shares of Epsilon Net worth €241.2 million, given that the price is set at €12 per share.

Since the beginning of March, the...