Dragon Holdings AG

January 10, 2011 04:16 ET


Dragon Holdings AG

                             ("Dragon Holdings AG" or "the Company")

                                ACQUISITION - RIGHT DEAL LIMITED
8th January 2011

The Directors of Dragon Holdings AG, the algorithm trading and Distribution Company, are pleased to announce
the acquisition of Right Deal Limited ("RDL").

Under the terms of the acquisition, Dragon Holdings AG will pay up to USD 1,250,000 for 100% of the shares of
Right Deal Limited.

RDL is a Hong Kong based IT Distribution Company established in 2002, providing both BotTrading hardware and
BotTrading software to primarily to customers in the Far East but also to the Middle East and Europe. It has
recorded an unaudited gross profit of USD 506,613 over the six months ended 30th June, 2009.  The audited pre-
tax profit for the year ended 31 December 2008 was USD 80,257 compared with a profit of USD 60,941 in 2007.
RDL's turnover for the year ended 31 December 2008 was USD 56,237,184 compared with a turnover of USD
30,369,959 for 2007.

The Directors of Dragon Holdings AG believe that as the IT and software technology sectors draw closer
together, the opportunities for both companies to find new customers and markets will increase. Hong Kong is a
high growth area in which the Company wishes to expand its operations; therefore this acquisition will be of
great benefit.

Michael Hughes, Executive Director of Dragon Holdings AG, said: "It is the nature of private companies that
their commercial value is frequently understated. Right Deal's proven underlying profitability makes it an
ideal fit with Dragon Holdings AG.  We see Right Deal working closely with our Singapore office to market and
sell the Dragon Holdings AG programmed trading terminals in Hong Kong and mainland China."

Tristan Tabori, CEO of Right Deal Limited, said: "Right Deal LTD is delighted to be joining forces with Dragon
Holdings AG, a company with a strong vision coupled with sound technology.

Together  we  will  be  stronger  and  able to reach new market segments  currently  missing  from  both
companies'  business  portfolios. We look forward to strong business growth coming from the synergies generated
by this acquisition."

The Directors of the Issuer accept full responsibility for the contents of this announcement.

Contact details:

Dragon Holdings AG
Michael Hughes                   +49 1767 3800 098

Investor Relations
Yana Slatina                     +65 8198 0352

Contact Information

  • Dragon Holdings AG