Magnus Holding completes acquisition of FAQT Group Belgium

Magnus Holding has completed the acquisition of Faqt Group Belgium, a supplier of business solutions and services with 13 employees. Its profitable 2004 revenue was 1.9 million euro.

Within Magnus Holding FAQT Group Belgium will continue its activities under the direction of its current management team, in close collaboration with Qurius in the Netherlands. "Through this acquisition Qurius will be able to strengthen its position in the Benelux for Microsoft-based business solutions, mainly for the waste management & recycling, food, pharmaceutical and chemical industry", says Fred Hermans, CEO of Magnus Holding.

The purchase price partly depends on Faqt Group Belgium’s 2005 and 2006 results and will be paid in cash or shares owned by Magnus Holding.

You’ll find further information on www.magnus.com.