December 13 (SeeNews) - Romanian group Arobs Transilvania Software said that its Hungarian unit Arobs Pannonia has agreed to acquire fleet management solutions provider SkyShield Magyarorszag for an undisclosed price.
SkyShield Magyarorszag has a portfolio of 200 customers with 1,200 vehicles, Arobs Transilvania Software said in a Facebook post on Monday.
You can subscribe to our M&A newsletter here
The company did not disclose further details in its post.
Arobs Transilvania Software has a budget of 3 million euro ($3.4 million) for acquisition of small companies in Romania, Hungary and Moldova, Romanian business newspaper Ziarul Financiar quoted Voicu Oprean, founder and CEO of AROBS Transilvania Software, as saying.
The company is currently in talks for three other acquisitions which could be closed in early 2019, according to Ziarul Financiar.
Arobs Transilvania Software, established in 1998, provides IT solutions in various fields, including travel, automotive, home automation and life sciences, IoT, enterprise application. The company employs over 750 people in Romania. It has units in Germany, Hungary, Moldova, Indonesia, the Netherlands and Belgium.
($ = 0.8787 euro)