Epsilon Net completes takeover of Netera

Listed company Epsilon Net on Tuesday announced the completion of its acquisition of a 60% equity stake in Netera, a company offering specialized IT solutions for enterprises in the hospitality sector, for a net consideration of 700,000 euros. Netera offers its services to more than 800 hotels.

Its sales totaled €241,000 in 2022 and net profitability is expected at more than 75% of its turnover.

Netera has zero borrowing.

Under the terms of the agreement, Athanasios Tsilivis, the company’s founder will control the remaining 40% of Netera and will continue to have the responsibility of product development and operations.