Končar Group Strengthens Digital Capabilities with Neos Acquisition

Končar – Digital, a member of the Končar Group, has signed a Purchase Agreement for business shares in Neos, intending to acquire a majority ownership in this company. The signing of the agreement followed the acceptance of KONČAR – Digital’s binding offer by the members of Neos. Given that there is an indirect connection between the contracting parties, the transaction is treated as a related party transaction.

With the acquisition of Neos, the Končar Group significantly strengthens its competencies and capacities in the segment of business applications intended for the power sector. Additionally, it gains specialized expertise in the development of analytical systems and cloud-based applications. This advancement also confirms Končar’s strategic focus on digitalization and the application of advanced technologies in the industry, which is recognized as one of the key trends in the global energy and IT industry.

The agreement defines a series of conditions that must be met for the transaction to be concluded. Among them, the obligation to obtain regulatory approvals for concentration, in accordance with legal frameworks, is particularly emphasized. Only upon fulfilling these conditions will Končar formally acquire ownership shares in NEOS.

By acquiring Neos, Končar not only strengthens its market position in Croatia but also opens up opportunities for expanding digital services at the regional level. The company will thus be able to respond more quickly and effectively to the growing demands of the power sector, especially in the areas of digital platforms, analytics, and cloud solutions.

Among Končar’s recent acquisitions, notable mentions include the acquisition of a joint venture between Končar and Siemens Energy, which invested approximately 260 million euros in the expansion of the large power transformer factory in Zagreb’s Jankomir, and the cooperation agreement between Končar and Solarna Elektrana, a subsidiary of the Spanish company Acciona Energía, for the construction of the 400-kilovolt transformer station Promina, valued at 15.3 million euros.