Bloomberg News

Synergon Advances Most in 15 Months on Subsidy: Budapest Mover

January 10, 2013

Synergon Nyrt. (SYNERG) jumped the most in more than 15 months after the Hungarian computer services provider won a subsidy to build a data center powered by renewable energy.

The stock rose 12 percent to 470 forint by 4:05 p.m. in Budapest, the biggest advance on a closing basis since September 2011. Synergon had the biggest gain in the 11-member benchmark BUX stock index, which rose 0.6 percent. Traders bought and sold more than 130,000 Synergon shares, 642 percent of the three- month average.

Synergon won a grant of 2 billion forint ($9 million) to build the data center, which will partly run on geothermal energy, according to an e-mailed statement today. The center, which will support telecommunications services, will have an initial area of 2,000 square meters (21,528 square feet) and can be expanded to 5,000 square meters, according to the statement.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net


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