Sito has 46 employees, and specializes in financial consulting, systems implementation, and data processing. The purchase doubles the size of S&T’s workforce in Serbia and Montenegro.
The deal continues S&T’s strategy of taking over small companies in key geographical areas, following the acquisition earlier this year of the Austrian subsidiaries of Computacenter and T-Systems.
Vienna, Austria-based S&T has been branching out from its traditional base in central Europe in recent years. In 2004, revenue in the Adriatic region, which includes Serbia and Montenegro along with Slovenia, Bosnia-Herzegovina, Croatia, and Macedonia, increased by 10.6% to 68.5m euros ($89.1m), making it the company’s largest geographic segment with 31.2% of total sales.
