Maribor, 06 March (STA) - Margento R&D, a Maribor-based provider of mobility and mobile payment solutions, has been acquired by Enghouse Systems, a Canadian software and services company, for an undisclosed amount.
"We are excited to join forces with Enghouse. We can expand Margento's presence and create synergies in our sales," Margento R&D chief executive Žiga Schmidt was quoted as saying in a joint press release yesterday.
Best known for managing the Urbana city card in Ljubljana and as the vendor behind the Valu mobile wallet, Margento R&D is a provider of solutions for transit fare collection, automatic vehicle tracking and payment solutions.
The company posted net sales of EUR 4.5 million and a net profit of EUR 50,000 in 2023, the latest year for which data are publicly available.
Enghouse Systems, which is listed on the Toronto Stock Exchange, is much larger, its full-year revenue exceeding EUR 500 million last year.
Margento R&D's ownership is not clear in public records but Necenzurirano, an investigative news portal, says it was controlled by entrepreneur Miloš Urbanija via a Dutch company.
