EPSILON NET GROUP OF COMPANIES: Acquisition of 80% of the IT company iQom which specializes in retail solutions from its subsidiary Epsilon SingularLogic

EPSILON NET announces that its subsidiary Epsilon SingularLogic S.A., has completed the acquisition of 80% of the company "A. Triantafyllidis - D. Zachos GP " with the distinctive title iQom, which specializes in IT solutions for the private sector (www.iqom.gr).

IQom has a long-standing experience in custom business software applications in the dynamic Retail Sector software. The company has comprehensive solutions for:

  • Super Market &Mini Market
  • Food & Beverage Stores
  • Restaurants
  • Clothing & Shoe stores
  • Other Retail Stores (Pet shop, Florists, Toys, Kiosks-Convenience Stores etc.)

The company holds exceptional place among the companies that work exclusively with Retail Sector, has provided over 1,300 facilities to more than 550 customers while supporting more than 2,400 active users daily throughout Greece.

The company has offices in Thessaloniki & Athens, while the promotion of its solutions nationwide is done through a network of specialized dealers, who also provide onsite support of its products in retail stores.

According to the data of the first seven months of 2021 sales amounted to 1,12 million euros, profit before tax amounted to 412 thousand euros, while at the same time it has almost zero debt.

The total amount for the acquisition of 80% of the company is 1.8 million euros, while the founders of the company, Mr. Achilleas Triantafyllidis and Mr. Dimitrios Zachos, will own the remaining 20% of iQom and will continue to contribute daily to the nationwide development of the company.

The acquisition was funded through the capital increase of Epsilon SingularLogic S.A. which was approved at the Extraordinary General Meeting of its shareholders (Epsilon Net 60%, Space Hellas 39.972%, Global Equity Investment 0.028%) thus, further strengthening the commitment of management of both Epsilon Net and Space Hellas for strong business synergies which add to the overall business ecosystem, and showing great results with the joint acquisition of Singular Logic and with the subsequent creation of Singular Logic and Epsilon SingularLogic with a specific strategic orientation based on the unified coordination and the optimal utilization of their advantages both in private and public sector.

The Group, consistently implements its strategic planning to expand its customer base and integrate its solutions both in horizontal and vertical markets with specific needs. Furthermore, Group's management with a view to the Digital Transformation of the private sector & its gradual expansion abroad, systematically monitors the developments regarding entrepreneurship & technology and also new financing opportunities concerning the development of the Private Sector that will arise in the near future from the EU "Recovery and Resilience Fund" and the "NSRF 2021-2027".

EPSILON NET Group continues with steady steps in the implementation of technological & business collaborations in order to increase its customer base, its market shares and all its financial figures. Strategic goal of the management is to create value for the employees, the partners, and the shareholders as the largest IT Group in the field of Business Software in Greece.



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