HELSINKI, FINLAND (PRWEB) December 2, 2005
GNT Group, the leading IT and consumer electronics wholesale distributor in Finland and the Baltic region, has signed an agreement for the acquisition of all shares of IT distributor group Santech Micro Group AS. The acquisition covers the SMG companies in Norway, Sweden and Finland. SMG's Supplies Team companies in Sweden and Norway and SMG Denmark are not included in the deal.
The combined pro forma revenue of GNT and SMG was approximately 1.3 billion euros in 2004. Pro forma revenue in 2005 is estimated at 1.5 billion euros. The agreement is pending approval by competition authorities. The sale price was not disclosed.
As a result of the acquisition, GNT becomes the largest IT distributor in the Nordic countries. The deal will expand GNT's operations into Norway and will make the company one of the leading IT distributors in Sweden. SMG's personnel in Norway, Sweden and Finland will transfer to GNT. The combined companies will employ approximately 1,000 people.
"GNT and SMG share a strong local market expertise, cost-efficient operations and a focus on value-added customer service. Combined, we are a major Nordic company that believes in local presence and management. Our own logistics in each country provide us with a significant competitive advantage, allowing us to serve our customers and vendors quickly and flexibly," said Mika Junnila, CEO, GNT Group.
"SMG has strong relations with a wide range of vendors and resellers in Sweden and Finland. When integrated with GNT's efficient processes and systems, we expect to see even stronger results and continued growth," Mr. Junnila continued.
On Tuesday, November 29th 2005, GNT Group announced the acquisition of Hot One Group, which distributes approximately half of the music recordings sold in Finland. Last year, the company's revenues were 28.5 million euros. The deal is pending approval by competition authorities.
GNT Group is the largest IT wholesale distributor in Finland and the Baltic countries. GNT represents leading brands including 3Com, Acer, Canon, Electronic Arts, Fujitsu-Siemens, F-Secure, Hewlett-Packard, Hitachi, IBM, Kingston, LG, Microsoft, Motorola, Philips, Samsung, Siemens, Sony and Viewsonic. GNT Group’s headquarters and main logistics centre are located in Tampere, Finland, with country offices in Estonia, Latvia, Lithuania, Sweden and Poland. GNT employs 596 people. The company is a member of the European Wholesale Group (EWG), which represents the leading vendors of IT hardware and software products and is the third-largest IT distributor in Europe. For more information, please visit http://www.gnt.fi.