Talks between the companies have been going on for over a year.
Smart Technologies and Holistic, two leading brands in the local IT sector, have finalised a deal that will see the companies combine forces and start operating as a single entity. Discussions have been going on for more than a year, and the signing of this agreement provides for the acquisition of Holistic by Smart Technologies, in a move that will result in a more consolidated offering for both local and overseas markets.
The two companies have already worked together on several IT projects in the past. As a result of this synergy and the realisation that their products and services complemented each other’s perfectly, it was agreed that more opportunities for collaboration should be explored. Eventually, the managements of both companies decided that to get the best out of this relationship they would need to take it to a shareholding level.
Simon Bonanno, former CEO of Holistic and current Chief Products Officer at Smart Technologies, said, “With the conclusion of this deal, both organisations now bring a vast wealth of knowledge to a single table.” He also noted that, “the effects of this synergy are already being seen in practice through our combined business development team, which now includes three highly experienced members: our CCO Ruben Caruana, IT consultant Audrey Farrugia, and myself.”
Joe Aquilina, CEO of Smart Technologies, said, “This acquisition had already yielded positive results by helping us secure our first international contract in Italy after just three months from the transfer of shares. We expect even more positive outcomes as operational takeover and consolidation are still ongoing, and should be completely finalised in the coming months with the move to our new offices.”
Smart Technologies Ltd was founded in 2008 and has rapidly grown into one of Malta’s most trusted companies for IT equipment leasing and outsourcing. Throughout the years, Smart Technologies has built a reputation for flexibility and reliability by providing a consistent, professional service through custom IT packages that use the most modern equipment available. The takeover of Holistic by Smart Technologies has further enhanced its offerings with a complete range of services that includes corporate training, web design, mobile and e-commerce applications, alongside its own digital solutions for hospitality, business intelligence, cloud computing and managed services.