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AROBS Transilvania closes purchase of Infobest

Jun 5, 2024, 12:49:19 PMArticle by Alexandru Cristea
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June 5 (SeeNews) - Romania's AROBS Transilvania Software [BSE:AROBS] said it has completed the acquisition of German IT solutions group Infobest for an undisclosed amount.

AROBS Transilvania closes purchase of Infobest
Author: Arobs. Licence: All rights reserved.

Infobest has offices in Romania's western city of Timisoara and in Leverkusen, Germany, AROBS said in a filing to the Bucharest Stock Exchange, BVB, on Monday.

In February, AROBS Transilvania Software announced plans to fully acquire the German IT solutions group, as part of its broader objective of consolidating its presence both nationally and internationally.

AROBS is currently in the first stage of increasing its share capital, which runs until July 4, according to a prospectus filed with the BVB last Friday. Existing shareholders as of May 10 can buy new shares at 0.93 lei each, needing five preference rights for one new share. AROBS plans to issue up to 178,258,721 new shares. Any unsold shares will be offered privately in the second stage of the increase.

In the first quarter of 2024, AROBS booked a consolidated normalized net profit of 11.7 million lei ($2.56 million/2.35 million euro), down by an annual 30%, on revenue of 105 million lei, it said in a quarterly financial report filed with the BVB last month.

At the end of 2023, the AROBS group included the parent company and 27 subsidiaries. AROBS Transilvania Software is an IT company established in 1998 and headquartered in Cluj-Napoca. The company is focused on developing custom software for a range of industries.

AROBS Transilvania Software shares traded 0.45% lower at 0.886 lei as at 1111 CET on June 5 on the Bucharest bourse.

(1 euro=4.9752 lei)

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