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Romanian IT co Bento eyes 72% rise in turnover in 2021, mulls bourse listing

Romanian IT co Bento eyes 72% rise in turnover in 2021, mulls bourse listing Bento co-founder and Executive Managing Partner Vlad Bodea, Partner and General Manager Radu Scarlat Source: Bento

BUCHAREST (Romania), September 21 (SeeNews) - Romanian software solutions and cloud services provider Bento said on Tuesday that it aims to increase its turnover by 72% this year, to some 26.3 million lei ($6.22 million/5.31 million euro) and is considering listing on the Bucharest bourse.

Bento plans to continue investing in developing its software products and increasing presence at a regional level, the company said in a press release.

"To this end, we consider various development scenarios, including partnerships with investors active in this field or listing on the Bucharest Stock Exchange," Bento general manager and partner Radu Scarlat said.

During January-June, Bento's turnover soared by 88% year-on-year to 11.9 million lei, boosted by intense activity in terms of both recurring contracts and new projects won.

In the first half of the year, the company's Software Development division recorded revenues of 3.3 million lei, up 53% compared to the first half of 2021. Bento's IT, Infrastructure and Cloud division generated 8.5 million lei in revenues during January-June, up 106% on the year.

"One of our strengths is that most of our customers are blue-chip companies active in solid industries such as energy or telecommunications. They generate significant demand for the implementation of digitalization and automation solutions that improve their productivity," Bento co-founder and executive managing partner Vlad Bodea said.

Bento was founded in 2004 by Adrian, Corneliu, and Vlad Bodea under the name 2B Inteligent Soft. The company employs 70 and currently provides software solutions and IT and Cloud infrastructure services for multinational companies in Romania, the U.S, and Switzerland.

(1 euro=4.9481 lei)