"New Frontier Holding" became owner of Belgrade-based IT company "Saga"

SAGA is joining as 6th company New Frontier Group. New Frontier Holding has gained a majority interest in SAGA d.o.o., a Belgrade, Serbia headquarter based IT solutions and system integrations company with subsidiaries in Bosnia&Hercegovina, Macedonia and Montenegro.

New Frontier Holding signed on Tuesday 8th December 2009 a definitive contract with the current owners, who will remain as shareholders and executive management of the company.

Branislav Vujovic, CEO of New Frontier is pleased that SAGA joins New Frontier Group. “This is the next milestone in the New Frontier Group development which demonstrates our capability to pursue strategic objectives by extending our geographical coverage and increasing group revenue despite the difficult economic conditions. SAGA employees, with their knowledge and expertise, are an important addition to the group, and they are widening our competences and capabilities to deliver true business value for our clients, especially in the area of Telecommunication solutions.”

Goran Djakovic, CEO of SAGA is excited to join with his team the New Frontier Group: “The partnership with New Frontier Holding is a very important strategic milestone for Saga. After 20 years, Saga has become Serbia’s number one ICT services company. After expanding our operations in Montenegro, Bosnia & Herzegovina and Macedonia, we have decided to expand our reach and portfolio with this partnership, which can only benefit to everyone involved: NFH, Saga and specifically our clients. With our combined portfolio, geographical coverage and know-how, our clients’ needs will be met with ease – and with pleasure, as always.”

SAGA will continue to operate under the SAGA brand and retain its identity. As part of the transaction New Frontier Holding signed a long term agreement with the current owners and the executive management team, who will remain fully in charge of the further development of the company. SAGA and New Frontier Group will work together to pursue the portfolio and client expansion strategy within the Adriatics region.

New Frontier Holding GmbH is a registered Austrian company, founded August 23rd, 2006. The objective of New Frontier Holding is to build a strong IT group across Central and Eastern Europe and is following a buy and build strategy. NFH is planning to invest into 15-20 companies in the next 3-5 years, whereby the business focus is on companies with a strong software, services and solutions focus.

New Frontier Group includes by end of 2009 six group company members: Profinit in Czech Republic and Slovakia, Cogent in Slovakia and Czech Republic, XAPT in Hungary and US/Canada, Grepton in Hungary, Romsys in Romania and SAGA in Serbia, Bosnia&Hercegovina, Macedonia and Montenegro.