Motor Oil Hellas has moved to consolidate its position in the digital services sector by acquiring the entire stake in Nova ICT from Nova Telecommunications and Media.
The transaction was executed through Ireon Technologies Limited, an indirect subsidiary of the Greek energy group, marking a significant step in Motor Oil's diversification strategy beyond traditional fuel retailing.
The deal underscores the growing convergence between energy and technology sectors as traditional oil companies seek to monetize digital infrastructure and customer data.
By taking full control of Nova ICT, Motor Oil gains direct oversight of the telecommunications and IT services arm previously held by Nova, potentially streamlining operations and enhancing cross-selling opportunities within its broader ecosystem.
This acquisition aligns with broader trends in the European energy market where integrated utilities are increasingly investing in digital capabilities to support electrification, smart grid solutions, and customer engagement platforms.
The move may also position Motor Oil to better serve corporate clients requiring bundled energy and IT services.