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Romanian IT co Bittnett completes acquisition of local peer 2NET Computer

Romanian IT co Bittnett completes acquisition of local peer 2NET Computer

BUCHAREST (Romania), September 22 (SeeNews) - Romanian IT company Bittnet Systems [BSE:BNET] said on Thursday it has completed the acquisition of local peer 2NET Computer.

The company covered 25% of the transaction with its own funds, it said in report filed with the Bucharest Stock Exchange.

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Earlier this month, the company announced the signing of a loan worth a maximum 11 million lei ($2.2 million/2.22 million euro) for financing the takeover of 2NET Computer and TopTech.

The loan helped Bittnet cover the remaining 75% of the transaction price for 2NET Computer.

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Following the registration proceedings with the country's Trade Registry, Bittnet will own 100% of the share capital and voting rights of 2NET, the report further shows.

Bittnet Systems, part of the Bittnet Group, is an IT and training company providing technical experience and more than 1,500 IT courses.

Bittnet shares traded 0.17% lower at 0.2995 lei/share on the Bucharest Stock Exchange, by 1414 CET on Thursday.

(1 euro=4.9436 lei)

 
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