November 19 (SeeNews) - Romanian IT company AROBS Transilvania Software said on Friday it is buying local custom software development and outsourcing company Berg Software for an undiclosed sum.
To carry out this transaction, AROBS will use part of the capital raised from the BVB investors during the private placement for its shares, which took place in October, as well as bank financing, it said in a press release.
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The company raised 74.2 million lei ($17.5 million/ 15.1 million euro) through a private placement on the Bucharest Stock Exchange and plans to list on the alternative trading segment of the bourse, AeRO.
"Our strategy is to continue our expansion both nationally and internationally by acquiring IT companies with which we can develop synergies in software expertise, particularly on enterprise solutions," AROBS founder and CEO Voicu Oprean said.
Berg Software, founded in 1991, is specialised in software development, cloud installation and migration services, as well as digitalisation services. The company has so far delivered services to 760 clients in 24 countries, including Germany, Austria and Switzerland.
In 2020, Berg Software recorded a turnover of 13 million lei and a net profit of 1.8 million lei.
Founded in 1998, AROBS Transilvania Software is present in seven locations in Romania and as many abroad. For 2020, AROBS Transilvania Software reported, at the individual level, a turnover of 154.5 million lei, EBITDA of 46.6 million lei, and a net profit of 40.4 million lei.
(1 euro=4.9488 lei)