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WESTech acquires Progamingshop.sk and MP3.sk

WESTech, the iStores network operator, has become the majority shareholder of Arašid, the largest specialized Slovak retailer of games, gaming consoles and accessories under the programingshop.sk brand and one of the leading mobile phones and accessories retailer under the MP3.sk brand.
Online retailer Arašid has recently transformed into an omnichannel retailer with 15 physical store locations. In addition to its leading position in Slovakia, Arašid holds strong market positions in the neighbouring countries. The company was founded in 2002 by Pavol Dlhoš and has been developed in cooperation with investor SLOVAK AMERICAN FOUNDATION since 2008. Company reported revenue of 16 mil. EUR in 2017.
WESTech, a member of ELKO Group, operates the largest network of premium Apple reseller stores in Slovakia and the Czech Republic under iStores brand.
WESTech is an expert in complex IT solutions and expansion of our portfolio by acquiring progamingshop.sk and MP3.sk was a logical next step for us. WESTech thus provides sale, distribution, servicing and software solutions for a broad range of products and services in both business and entertainment segments. By acquiring Arašid, we expand our retail network and come closer to our customers. We believe that working closely with the existing management, combined with our know-how, business relations and financial capacity, will lead to a better shopping experience for our customers and ensure further growth of the company
Matej Sršeň General Director of WESTech
We are happy that by joining WESTech we will become a member of a successful market player – ELKO Group. We consider it a sign of confidence in our capabilities and growth ambitions. It is also excellent news for more than a hundred of our employees and all our business partners. Thanks to this deal we will be able to expand our sales network and further increase satisfaction of our customers
Pavol Dlhoš Director of Arašid
Since our investment in Arašid in 2008, we have attempted to make the right decisions that will support the company and its growth. During this time, the company has grown considerably to become a leader in specialized gaming and mobile retail segments. We believe our exit is the right decision and WESTech is ideal investor for Arašid – we are thrilled for the opportunities that open for Arašid by this transaction. Since transformation of our investment fund into a non-profit foundation, our aim is to support innovative businesses in Slovakia through our US Connections program and we no longer make equity investments. Thanks to this transaction, we will be able to further increase our support for the start-up ecosystem in Slovakia and help more companies realize their potential
Mary MacPherson President and CEO of the SLOVAK AMERICAN FOUNDATION
ELKO Group is one of the largest distributors on the market, representing 210 IT manufacturers and offering a broad range of products, solutions and services to more than 7,700 partners in 31 countries in Europe and Central Asia.
WESTech is one of the leading IT product distributors with more than 2 000 customers per year and closely cooperating with more than 70 IT manufacturers, offering a wide range of services and products, such as Apple, AMD, Culcharge, Dell, Devia, Gigabyte, Griffin, Hitachi, Intel, JBL, Microsoft, Moshi, Sapphire, Seagate, Western Digital and others. WESTech currently employs more than 110 employees. WESTech has its second branch in Central Slovakia residing in Banská Bytrica.
For further information, please contact:

www.elkogroup.com
LinkedIn
Facebook
Twitter: @ELKO_Group

Inese Kalveite
Marketing and Communication Director
ELKO Group
+371 6709 3214
inese.kalveite@elkogroup.com

Matej Sršeň, General Director
WESTech, spol. s r.o.
Tel.: + 421 2 2090 1522
www.westech.sk

Pavol Dlhoš, Director
Arašid spol. s r.o.
Tel.: +421 48 321 1392
www.ProGamingShop.sk
www.mp3.sk