BUCHAREST (Romania), August 27 (SeeNews) - Polish IT group R22 said on Monday it is buying 99.9% of Romanian web hosting company Gazduire Web through its indirectly held unit H88 Hosting SRL for 1.1 million euro ($1.27 million).
The acquisition is a natural step in the process of group's development and marks the beginning of its foreign expansion in the field of hosting services, R22 said on Monday in a statement filed with the Warsaw Stock Exchange.
H88 Hosting SRL, which is part of R22's Romanian subsidiary H88 SA, paid the entire sale price on the day of concluding the agreement.
Following the deal, the companies belonging to H88 Hosting SRL will jointly be the leader in the hosting and domains industry in Romania, reaching over 15% market share and serving close to 30,000 customers and over 50,000 domains, R22 said.
H88 SA and H88 Hosting SRL will have one share of Gazduire Web, each of which represents 0.05% of the share capital which was subscribed before the conclusion of the agreement.
The Polish group also said it has agreed terms of another two acquisitions of Romanian companies providing web hosting services, without disclosing their names.
Gazduire Web is based in Bucharest and was owned by Greek investment fund Broadhurst Investments Limited and local group Romarta. It provides hosting, domains registration and maintenance services, virtual and physical servers as well as SSL certificates.
R22 Group is a holding of technological companies pursuing business activities in e-commerce. The Group focuses on scalable services offered on the basis of a subscription model and SaaS (Software as a Service).
Companies controlled by the R22 Group employ more than 150 specialists working at a dozen of centres throughout Poland.
Companies comprising the R22 Group offer hosting services (H88), omnichannel communication services automating electronic communication with the customers (Vercom Group) and telecommunication services (Oxylion Group).
($= 0.8644 euro)