Press Releases

JVS Group acquired GiTy

Prague/Brno (31 July 2009) - The company JVS GROUP CZ, a.s. (hereinafter "JVS") announced that is has recently signed an agreement with Arca Capital Bohemia, a.s. and Mr. and Mrs. Valentin Girstl on the acquisition of their shareholdings in GiTy, a.s. As a result, JVS becomes the sole owner of GiTy. Terms of the transaction were not disclosed.

The aim of JVS is to strengthen the position of GiTy as a leading player on the Czech telecommunications and IT services market and to provide a stable financial base for further expansion of the firm in the near term. "Our first moves were focussed on strengthening the financial stability of the company, especially securing the additional cash necessary for navigating the lingering unfavourable effects of the financial crisis and the subsequent recession on the market of ICT technology and services," said Luděk Vilím, the vice-chairman of the board of directors charged with running GiTy. "These measures have been accomplished, and company employees, suppliers and customers can now rest assured that GiTy again has a strong foundation and, along with its high degree of expertise, all the prerequisites for future development. For years GiTy has enjoyed a good reputation among its customers, and that is certainly something to build on," added Vilím.

"GiTy was connected with our names for a long period of nineteen years," remarked Valentin Girstl. "We are pleased that during its existence, the company became a renowned technology company - something it will continue to be," added Girstl. Mr. and Mrs. Girstl remain members of the GiTy supervisory board.

GiTy has been one of the leading providers of land-based and satellite telecommunication services since entering the Czech market as an innovator in the area of structured cabling in 1990. GiTy advanced to the position of a prominent player in the fields of corporate private networks, telephone communications and IP telephony, videoconferencing and satellite services. Another important part of the company's activities is IT and communications security, which includes information and security audits, stabilisation and security settings, the establishment of rules and a system of security management. GiTy is also involved in the building of telecommunications networks and IT administration. The company is active in the Czech Republic, Slovakia and Romania. The most prominent projects implemented by the company include the „Integrated Traffic Information System", the satellite connection of Czech diplomatic offices abroad, an intelligent system for the management of university campus buildings at Masaryk University in Brno, and a comprehensive system for the management of integrated transport in the South Moravia Region.

Until now, the JVS Group has primarily been known for its activities in the area of trade and advertising. The JVS Group is a financial holding group whose investment strategy is aimed also at additional promising fields and opportunities. The JVS Group, along with its new acquisition of GiTy, represents unique know-how in the field of financial management, strategic development and the search for new business opportunities both in the Czech Republic and in the broader region.

For further information please contact:

Vladimír Bystrov
Bison & Rose
Media representative for JVS Group CZ, a.s.
Tel.: +420 233 014 000
GSM: +420 777 130 788
vladimir.bystrov@bisonrose.cz