Budapest,November 27, 201716:00

Budapest - November 27, 2017 - Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB, hereinafter the 'Company'), the leading Hungarian telecommunications service provider, hereby announces that T-Systems Magyarország Zrt. has today signed an agreement to buy 100% ITgen Kft.. The company specialises in SAP services.

T-Systems Magyarország Zrt. has signed a Share Purchase Agreement to acquire a 100% stake in ITgen Kft., an SAP technology and security specialist, for a purchase price plus a potential earnout payment totalling to a maximum of HUF 1.2 billion, dependent on 2018, 2019 and 2020 financial performance. In 2016, ITgen delivered revenues of around HUF 0.8 billion and EBITDA of HUF 0.3 billion.

The acquisition of ITgen Kft. allows T-Systems Magyarország Zrt. to provide more comprehensive and therefore more competitive SAP services through acquiring competencies that are highly complementary to its existing portfolio. ITgen Kft. possesses unique competencies in SAP technology consulting, SAP GRC and SAP security.

Closing of the transaction is expected end of year 2017.

This investor news may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2016 available on our website at http://www.telekom.hu.

Magyar Telekom Nyrt. published this content on 27 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 November 2017 15:11:05 UTC.

Original documenthttps://www.telekom.hu/about_us/investor_relations/investor_news/2017/november_27

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