Hungarian IT services company Synergon Informatika Rt plans to lead the process of consolidation in the country’s IT sector and has three companies on a shortlist for acquisition this year. A further 17 companies have been examined as potential targets as chairman Tibor Gyorus forecast that the current burst of mergers and acquisitions could leave up to four companies commanding the country’s IT sector within four years.
Synergon’s hunger for acquisitions follows a first half when net profit rose 26.4% to the equivalent of $1.1m on revenue that rose 55% to $23.1m. The company’s business is strongly seasonal with 45% of revenue coming in the fourth quarter.
Apart from its domestic ambitions, Synergon plans to increase its presence in the region and is involved in talks or tenders in Romania, Bulgaria and Croatia.
