With the acquisition of the shares (34%) of the technology group Cosmos Business Systems, held by Vodafone and Infoquest, by the main shareholder, Chairman and CEO Mr. Dimitris Dafnis, a 23-year cycle is completed that began with the acquisition of Cosmos (which was founded in 1988) by the current group, in June 2000.
Before the acquisition, Mr. Dafnis held 65% – now 99% – of the shares of the group – Cosmos Business Systems AEBE, Cosmos Consulting AEBE, CBS IT Systems Cyprus Ltd and CBS.LAN AE – Cyber Security.
Cosmos, which has been operating continuously for 35 years, is entering its third period of growth, in an extremely positive economic and business context for the new technologies and IT sector in Greece and Cyprus. It is noted that the group expects revenues of €66.5 million this year from €41.5 million in 2022, i.e. an increase of 60.2%.
Mr. Daphnis, commenting on the acquisition, stated the following:
“I would like to warmly thank the managements of our shareholder companies and in particular Mr. Theodore Fessas, Chairman of Quest Group and Mr. Haris Broumidis, Chairman of Vodafone, for their practical and substantial contribution to the development of Cosmos over these 23 years, in all the difficult and easy moments and for the unwavering trust they have shown in the management of Cosmos and me personally.
The new period of Cosmos will be equally dynamic and adapted to the needs of the Greek and Cypriot Technology Market, with the ultimate goal of excellent service to our customers, which is the reason for the existence of the businesses.
The goals and challenges are ahead and I am confident that all 300 of our current associates will be at the forefront of innovation and the creation of new services and products. In all the markets and countries where we operate! ”
Cosmos is one of the most important IT and communications companies and has branches in Athens, Thessaloniki, Chania and Nicosia, Cyprus. The turnover in 2023 is € 66.5 million and it has 300 employees throughout the group.