Emakina acquires Turkish digital agency WittyCommerce

Emakina acquires Turkish digital agency WittyCommerce

Regulatory and privileged  information – free translation –

Brussels, Izmir – EMBARGO 18.15 CET -
Emakina Group SA (ALEMK:BBK) announces the acquisition of WittyCommerce. This Turkish digital agency based in Izmir and Istanbul is an e-commerce expert with an excellent track record in engineering solutions and IT services.
The new acquisition allows Emakina to further strengthen its position in Turkey.

Emakina Group SA announces the acquisition of 100% of the shares of WittyCommerce, through its Turkish subsidiary Emakina.TR in Izmir. The Turkish digital agency WittyCommerce already was a structural partner of Emakina, and the two companies’ skills complement each other very well.

Since 2016, the 30 experts from WittyCommerce have shared their advanced experience in strategy and online commerce implementation with their colleagues of Emakina, adding their high value-added capacity for a range of e-commerce technologies to the service offering.

The integration of WittyCommerce in the group paves the way for new opportunities to further develop the portfolio of international customers, in search of a trustworthy digital partner. The acquisition once more confirms the ambitions of Emakina Group in Turkey, and perfectly illustrates its aspiration to play a leading role as a solid partner in omnichannel commerce and digital business transformation projects.

The initial purchase price amounts to EUR 1,000,000 in cash. The final purchase price of the transaction will be based on the operating results recorded by WittyCommerce until 2022. The additional potential balance will be paid partly in the form of securities and in cash.

The annual turnover of WittyCommerce in 2017 amounts to almost 7 million Turkish lira, while its EBITDA (earnings before interest, taxes and depreciation) in the same year amounts to more than 1 million Turkish lira, on the basis of the accounting rules applied by the group.

WittyCommerce will have a positive financial impact on the revenues and consolidated EBITDA of Emakina Group for 2018.

Contact us
Frédéric Desonnay Chief Financial Officer, Emakina Group
Luc Malcorps Director of Media Relations, Emakina Group
Frédéric Desonnay Chief Financial Officer, Emakina Group
Luc Malcorps Director of Media Relations, Emakina Group
About Emakina Group SA

Emakina Group, an EPAM Systems, Inc. company (NYSE: EPAM), is one of the leading digital groups of independent digital agencies, with 26 offices in 18 countries in Europe, the Middle East, Africa and North America.

Learn more at www.emakina.group and follow us on Twitter @EmakinaGroup.

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting and design capabilities; and unique ‘Engineering DNA,’ EPAM’s globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people’s lives.

Selected by Newsweek as a 2021 Most Loved Workplace, EPAM’s global multi-disciplinary teams serve customers in more than 40 countries across five continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked as the top IT services company on Fortune’s 100 Fastest-Growing Companies list for the last three consecutive years. EPAM is also listed among Ad Age’s top 25 World’s Largest Agency Companies and in 2020, Consulting Magazine named EPAM Continuum a top 20 Fastest-Growing Firm.

Learn more at www.epam.com and follow us on Twitter and LinkedIn.

Emakina Group SA
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