BUCHAREST (Romania), April 8 (SeeNews) – Romania-based software company TotalSoft said on Thursday that it plans to invest 5 million euro ($5.93 million) in technology and innovation projects in 2021 as part of plans to expand to foreign markets with its new software solutions and to increase its role in the digitalisation of Romania's public administration.
In 2020, TotalSoft recorded 22.3 million euro in revenues and an EBITDA of 3.7 million euro. Projects implemented on external markets accounted for 30% of the turnover value for 2020, the company said in a statement.
Acquisitions on the local market also contributed to the development of the company last year. In 2020, ABS Financial Services, part of TotalSoft, took over the business portfolio from Nexia CRG Expert, a member of accounting and consulting network Nexia International.
TotalSoft is a regional provider of business information systems ERP, HCM, CRM, and BI, as well as integrated solutions specialised in major industries such as leasing, retail, medical services, agriculture, construction and services.
Originally a Romanian company, TotalSoft was acquired by Turkish software company Logo Yazilim from Ferabosco Investments Limited and South Eastern Europe Fund for 30.2 million euro ($35 million) in September 2016.
TotalSoft has a team of over 550 employees and a portfolio of projects in 46 countries across four continents.
($=0.8426 euro)