August 11 (SeeNews) - Digital engineering and technology solutions provider Nagarro and software development company iQuest, both members of German group Allgeier SE, announced on Tuesday that they are merging their operations in Romania.
Following the transaction, the two companies will bring together approximately 815 employees in Romania, they said in a joint statement.
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Nagarro is based in Timisoara and has 155 employees, while iQuest has offices in Cluj, Brasov, Bucharest, Craiova, and Sibiu, where it employs over 660 .
The merger is part of the business strategy of Allgeier SE, a company listed on the Frankfurt Stock Exchange.
"The strategy aims to group all entities within the technology portfolio of Allgeier into a separate business unit that aims at independent listing, namely the role of an innovative, full-service, global leader in digital engineering and technology solutions," the statement reads.
"Both Nagarro and iQuest are professional services organizations with a solid culture having more similarities than differences. This outlines the advantages of our decision. Both organizations build software solutions based on a consistent understanding of customer needs and with a very high versatility and added value. On the other hand, the new organization will be able to access markets not yet addressed by each of the two companies", Nagarro Romania managing director Voicu Stoiciu said.
After the merger, the new company anticipates a consolidation of the common areas of activity, and an expansion in the new areas by exploiting the group’s potential.
While iQuest will be rebranded to Nagarro over the following months, at an operational level the two organizations will not undergo any change. Voicu Stoiciu, who currently holds the role of managing director at Nagarro in Romania, will oversee the operations of the new entity formed in Romania.
The customers served by iQuest are mainly located in countries such as Germany, Switzerland, the UK, and the US. They operate mainly in areas such as financial services, life sciences, transportation and logistics, utilities, and telecom. On the other hand, Nagarro, operating locally since 2005, uses a global delivery model and has customers in areas like manufacturing, transportation and logistics, banking and insurance, automotive, digital, retail, and telecom.
Nagarro is a global provider of high-end technology services for digital innovation and breakthrough performance, with major centers in Romania, Austria, Germany, India, Mexico, the United Arab Emirates, and the United States. It was founded in 1996 and was taken over by Allgeier SE in 2011.
iQuest, a business IT solutions and services provider, has software development centers in Cluj-Napoca, Brașov, Craiova, Sibiu, Bucharest and Warsaw, headquarters in Frankfurt and a consulting office in Zurich. iQuest started its activity in 1998, being founded by Cornelius Brody, an entrepreneur from Cluj. Since 2018, the Allgeier group holds the majority stake in iQuest Group, and currently, iQuest Group is 100% owned by Nagarro.