Today INTRACOM organized a meeting for the Association of Greek Institutional Investors (AGII) at its premises in Peania. During the meeting, the Chairman of the INTRACOM Group, Socrates Kokkalis, together with the CEO, George Deligiannis, discussed the company's recent acquisitions in the telecommunication services market within the framework of the Group's broader strategy. As already announced in 2004, this strategy focuses on technology services.
Both the President and INTRACOM CEO extensively referred to international trends and similar strategic moves of major international Groups that took place within the framework of IT&T convergence. Moreover, they emphasized the large business potential coming from the proliferation of Internet and broadband networks.
INTRACOM's recent acquisitions by are aligned with the Group's strategy and they are part of a 5-year business plan that will be outlined in January 2006.
Starting the presentation, Chairman S. Kokkalis, talked about the international developments in the ICT field, as well as INTRACOM's strategy and new corporate structure. Mr. Kokkalis emphasized: "Our goal is to become a key-player in the fixed telephony and Internet market, focusing on the broadband services and integrated IT & Communication services for businesses. As a multinational Group, headquartered in Greece, our next steps we will be to develop relevant activities in our wider geographic region."
This market presents a new development opportunity for INTRACOM, offering a high profitability and return-on-investment potential. It is a market where the Group has significant competitive advantages.
Those advantages are its extensive know-how in the IT & Communication field, its valuable 30-year experience in serving large enterprises within Greece and internationally, its important infrastructure as well as its highly skilled intellectual capital, considering that INTRACOM is the largest private employer of scientific personnel in Greece. INTRACOM is a world-class, multinational technology company, based in Greece, a hub of research, development and expertise, with international distinctions in fields such as broadband systems. These valuable assets are INTRACOM's competitive advantage to succeed in its new venture.
Within the framework of its broader strategy, INTRACOM becomes a holding company and establishes 3 new subsidiaries under its control. Each one of them will focus respectively on telecom solutions, defense electronic systems and IT services & telecom operations.
"As a holding company we are becoming more flexible in order to succeed in our development plans for each of the different markets we are active in. We further improve our corporate governance as is our duty towards our customers, investors and partners," emphasized G. Deligiannis.
At the end of the meeting, INTRACOM President, S. Kokkalis, said: " We have always been looking into the future, aiming to play a key role in the international business arena. We recognize emerging business opportunities and work hard to succeed in our mission to become a technology leader amongst the most powerful players in the wider geographical region."
INTRACOM was founded in 1977, listed on the Athens Stock Exchange since 1990 and included in the FTSE/ASE-20 LargeCap index. INTRACOM Group has 5.450 employees and offers its products and services in 60 countries all over the world, focusing on European Union, N. Africa, M. East and the USA. INTRACOM, besides Greece, operates subsidiaries in 16 countries.