R22 buys Kei.pl for PLN 22 mln

IT and telecom group R22, which debuts on the WSE this Friday, has bought a full stake in hosting company Kei.pl for PLN 22 million, the company said in a market filing. The acquisition will be financed with funds from the IPO from which the company raised more than PLN 61 million. A subsidiary of the hosting segment of the R22 group takes over 100% of Kei.pl for approximately PLN 22 million, R22 reported. “After the acquisition of Kei.pl, the R22 Group will increase its market share and strengthen its position among the leaders of the Polish hosting industry. Kei.pl generated revenue for the last closed fiscal year 2016 at the level of over PLN 8 million, has approx. 14,000 customers and over 18 thousand domains served,” R22 said. As part of the transaction, R22 will also takeover a 1,000 sqm modern data center in Kraków.