WESTech acquires a majority stake in Logicworks
WESTech acquires a controlling stake in Logicworks from Etnetera Group
WESTech acquires a majority stake in Logicworks from Etnetera Group. This move creates a strong player on the market with a focus on the Apple platform for the B2B segment operating in the Czech Republic and Slovakia. Etnetera Group is selling its stake as part of its portfolio transformation.WESTech operates the iStores retail network in Slovakia and also in the Czech Republic and, thanks to the merger with Logicworks, is starting to focus even more on solutions for the B2B segment:
“WESTech, together with the iStores (Apple Premium Reseller) brand, has been covering the B2B Solutions (VAD) department since 2015 with the Apple product portfolio. The department serves over 1000 customers, including companies and state institutions in the Czech Republic and Slovakia. Joining with Logicworks is one of the strategic steps that will enable our customers to change the traditional corporate IT model. Our mission is to help businesses work more efficiently through total digital transformation.” Head of B2B Department, WESTech
“WESTech owns one of the major Apple Premium Reseller brands and operates under the name iStores in the Czech and Slovak territories. It provides a premium customer experience to both end users and corporate clients. Thanks to this combination, it is able to offer the market a comprehensive range of services with high added value.” CEO, WESTech
Together with WESTech, Logicworks is gaining a stronger market position and expanding its Apple implementation for businesses and other services in Slovakia:
“I perceive the merger of WESTech and Logicworks as a unique synergy – on the one hand, a hardware supplier for the B2B and SMB market segments, operating in the Czech Republic and Slovakia for a long time, and on the other a company focusing on the implementation of MDM solutions, the development of the Logicworks Sensei service and IT outsourcing in companies using Apple products. Both companies have a strong connection to this brand in their DNA. Their interconnection has created a strong player on the market capable of tackling the toughest challenges.” CEO, Logicworks
Etnetera Group is one step closer to its planned transformation thanks to the sale of its stake:
“The sale of Logicworks continues the broader transformation of the Etnetera Group and its division into core digital transformation activities and startup projects newly concentrated in the PIE Ventures technology investment fund. We were looking for a suitable strategic partner for Logicworks and we are very pleased that we found one in WESTech. We believe that together we will successfully develop desirable services for the Apple platform for the largest clients in the Czech market.” Co-founder of Etnetera Group
About WESTech
WESTech is a trading company with more than 20 years of experience in the European Union market. It is part of the international ELKO GROUP network with a total annual turnover of USD 1.883 billion. Together with its subsidiaries, it employs 400 people. It operates the iStores – Apple Premium Reseller retail network, which consists of 15 stores in the Czech Republic and Slovakia and two e-shops: istores.cz and istores.sk. These stores, with an annual turnover of EUR 60 million, are visited by millions of customers a year.
About Logicworks
Logicworks implements Apple’s bulk device management solutions for Enterprise and SMB businesses while developing Logicworks Sensei, a product that helps businesses reduce IT management costs. Logicworks’ turnover for 2019 amounted to CZK 35 million.
About Etnetera Group
Through Etnetera, Etnetera Motion and Etnetera Activate, Etnetera Group is an experienced partner for clients in the development of their digital businesses. It designs and develops web and mobile solutions for customer communication and e-commerce, data and web analytics, and marketing automation. It provides e-commerce development and full-service agency consulting services in the field of creative communication strategies focused on brand building, influencer marketing, design and content production. Etnetera Group’s turnover for 2019 before consolidation was CZK 354.3 million.