Austrian Acquisition in Hungarian IT Firm

The Austrian IT company Plaut has acquired a majority stake in the Hungarian firm Netlife Consulting, which specializes in SAP consulting and continues to operate under the name msg Plaut Hungary Ltd., the Austrian company told the Hungarian state news agency MTI.

According to the information, with the acquisition, the company aims to reach a turnover of HUF 1 billion within five years and to increase the number of its customers and employees fivefold. The legal predecessor of msg Plaut Hungary Ltd., Netlife Consulting, achieved a turnover of almost HUF 200 million last year.
The Austrian multinational company decided to acquire the Hungarian firm in order to expand its network and take advantage of the opportunities in the fast-growing domestic SAP market. Netlife Consulting, which has been operating successfully for more than ten years, came to Plaut's attention due to its international and domestic business IT projects. The company, which employs a team of 15 consultants, has completed successful projects in Austria, Belgium, the Netherlands and Switzerland in recent years, and has proven itself in Hungary mainly by introducing next-generation SAP solutions.