In line with a deal signed on Wednesday, Selectium will assume the activities of the Slovenian subsidiary of the US multinational in Slovenia, a statement from Selectium said.

The sale is a culmination of restructuring announced by HP earlier this year.

Selectium, which is headed by former HP Slovenia general manager Iztok Klančnik, said it would present its operations in greater detail in December.

It added that the transaction would ensure that the activities involving existing clients remain unaffected.

The STA learnt in May that HP Slovenia was due to cease operations as part of restructuring by the US multinational. Operations were set to resume through partner companies.

Well-placed sources said the move would be effective as of the end of September.

The news was never officially confirmed by HP Slovenia, which said only that it was in talks with employees on "changes brought about by an overhauled model of operations in Slovenia".

Selectium is wholly owned by Midist Group, an multinational providing a range of IT services.