June 18, 2014

Solitea buys a 100% share in Aquasoft

Solitea, which was first mentioned two weeks ago in relation to its acquisition of Vema from Brno, today announced that it purchased a 100% share in Aquasoft. The Czech market thus saw the rise of a large IT holding with a wide portfolio of accounting, ERP and payroll systems that is capable of realizing large individual projects.

Aquasoft is a leader among Czech companies specialized in custom software applications for public administration, health care and the commercial sphere. The Solitea holding consists of Aquasoft, Cígler Software, known on the Czech market mostly as the market leader in accounting and ERP systems with its Money brand, the ERP system producer Vario Altus Software, 100% owned by Cígler Software since December 2013, and Vema, the leader on the Czech market with HR management systems which also operates in Slovakia.

“The Czech and Slovak market with information systems is highly competitive and includes hundreds of ICT solution suppliers. Not many of them today have the strength to significantly innovate their products,” said Martin Cígler, Chairman of the Board of Directors of Solitea. “The creation of Solitea will benefit mostly our customers; the products of companies complement each other very well and we are able to use their inner synergy, as well as the huge potential of our human resources, to further develop our solutions.”

“We started to elaborate the idea of creating a strong IT group already at the first meeting with Martin Cígler on possible purchase of a share in Cígler Software more than two years ago,” adds Michal Rybovič from J&T Corporate Finance Slovakia on the holding vision. “Since then we worked with tens of subjects on the Czech and Slovak markets and we have a very good idea about which company is profitable and who’s in the red.”

“We are ready to fully use and further develop our know-how during challenging projects connected with new opportunities that come with being a part of the J&T group” adds Petr Franc, executive agent of Aquasoft. “The cooperation within the holding will also bring internal synergy, such as sharing of best practices in respective areas of business of individual companies.”

Today Solitea owns 100% of Vema and 100% of Aquasoft and 100% of Cígler Software through its shareholders. Solitea is owned by Martin Fedor (70%), partner of the J&T group, and Martin Cígler (30%), founder of Cígler Software. An option to purchase 8% of Solitea belongs to the original owners of Vema, Martin Máčel and Jan Tomíšek.

Since its foundation, Solitea, a.s., has always been one of the largest subjects on the Czech and Slovakian ICT market. It employs over 380 employees in the Czech Republic and Slovakia and its consolidated revenues exceed 500 million CZK, with an EBITBA of over 90 million CZK. Behind this project is Martin Cígler, founder of Cígler Software, Martin Fedor, partner of the J&T group, and Michal Máčel with Jan Tomíšek, original shareholders of Vema. The holding joins selected companies within the field and region.

For 18 years, Aquasoft, s.r.o., has been a leader among Czech companies specialized in custom software applications for public administration, health care and the commercial sphere. Its team of qualified professionals guarantees a high quality of provided services, as well as a highly personal approach to each client. Its most significant clients include the General Directorate of Customs, the Ministry of Agriculture or the Czech Telecommunication Office. Interesting foreign customers include the Serbian Customs Administration or Turkish Ministry of Agriculture.

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