PRAGUE, June 10 (CTK) - The Czech News Agency CTK has sold 100 percent in Ceska kapitalova informacni agentura (Cekia) to CEE DATA, CTK announced in a press release today.
Cekia is a leading Czech provider of databases of companies and business information.
CTK bought Cekia in 1999 from a group of shareholders led by the Prague bourse.
"CTK has made the decision [to sell Cekia] in connection with its long-term strategy to focus on its chief activity that is providing a quality news service from all areas of life," CTK's general director Milan Stibral said.
Cekia's new owner and CTK have agreed on close cooperation in the future, particularly in the development of their joint product, Prodata.
CEE DATA belongs to Central European Capital LLC, together with which Cekia has been drawing up a chart of Czech companies ranked by value added.
Their new joint project is a chart of the 1,000 largest companies by sales in eight new EU member states launched this year.
The new owner should help Cekia move to foreign markets.
In the short-term, Cekia will consolidate its position of market leader in providing quality and independent information about companies. In the medium-term, it will expand to other markets in Central and Eastern Europe, Georg Hotar, CEO of CE Capital said.