eMAG Hungary merges with Extreme Digital, aims for one billion Euro sales on the Hungarian market

eMAG Hungary and Extreme Digital, the two leading Hungarian online marketers, have announced their merger, giving birth to one of the leading e-commerce companies in Central and Eastern Europe.

The company will be able to compete with the biggest online retailers. The goal is to reach sales of one billion Euro in the coming years.

“This partnership is a recognition of the scalability and quality of eMAG technologies that have been developed over the past ten years. We are confident that eMAG’s development in the region will intensify as a result of this merger, creating the premises for expansion in countries where Extreme Digital is already active,” said Iulian Stanciu, eMAG CEO.

Following the merger, eMAG Romania will become the majority shareholder of the new entity, with 52 percent of the shares, the remaining 48 percent returning to Extreme Digital shareholders. Completion of the transaction is subject to the agreement of the competition authorities.