Less than 60 days from the IPO, DHH announces its first acquisition
Dominion Hosting Holding S.p.A. strengthens its leading position on the Croatian market with the acquisition of the entire corporate capital of InfoNET d.o.o.
Milan, 23 September 2016. Dominion Hosting Holding S.p.A. (“DHH”) (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622 | ISIN warrants IT0005203689), a tech company whose mission is to create the “Internet Platform of the Emerging markets of Europe”, purchases 100% of the corporate capital of InfoNET d.o.o.
Today DHH is a leader, among SMEs companies, in the business of web hosting services in the European emerging digital markets, with a special focus on the Balkans.
With this acquisition DHH significantly reinforces its leading position vis-à-vis its competitors in the Croatian market, as per the last official publicly available data (ref. official p&l 2015 of the web hosting firms in Croatia – source: http://rgfi.fina.hr/).
InfoNET d.o.o. is one of the main players in the Croatian web hosting market, with a turnover of HKR 2.670.100 (approx. EUR 352.000), an EBITDA of HKR 958.989 (approx. EUR 126.091) and a net profit of HKR 729.548 (approx. EUR 96.000, or 27% of turnover), no financial debts and cash at closing of HKR 739.833 (approx. EUR 98.644,40) achieved during the last financial year (2015). In 2014, the turnover was HKR 2.328.645 (approx. EUR 307.000), while net profit was HKR 610.127 (approx. EUR 80.000, or 26% of turnover).
InfoNET d.o.o. fully owns also HostingIT j.d.o.o., a young Croatian web hosting provider with an estimate turnover approx. EUR 25.000 – 30.000 (2016).
The acquisition – carried out by DHH’s Croatian subsidiary Plus Hosting d.o.o. – concerns 100% of the corporate capital of InfoNET d.o.o. The purchase price is equal to HKR 3.497.813,75 (approx. EUR 466.375,17) plus cash position. 85% of the purchase price has been fully paid on the closing date, 23 September 2016, while 15% will be paid in 12 months, as a deferred payment. Damir Maračić, former owner and director of InfoNET, will remain involved in the company as an employee after the acquisition.
Giandomenico Sica, Chairman of the Board of Directors of DHH commented: “We are very happy of this first acquisition post IPO. We consolidate our leadership on the Croatian market buying a very healthy and well managed company, stable, with high profits, no outstanding invoices, no operating debt with banks, strongly cash flow positive and completely self-sustainable. Our future goals are to improve the growth rate of the company, thanks to the work of our internal teams and leveraging both on InfoNET and HostingIT brands and operations. Furthermore, we will work to optimize the – already good – margins of the business, thanks to the operating infrastructure we have in place in Croatia and Slovenia”.