March 28 (SeeNews) - Romania's competition authority said on Monday it approved the takeover of local software engineering firm Tremend Software Consulting by French multinational advertising and public relations company Publicis Groupe.
"Following a review of the transaction, the Competition Council found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position," the anti-trust body said in a statement.
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Publicis is also taking over Tremend's subsidiaries in the U.S. - Sixty Four Eights Group LLC and in Luxembourg - Tremend Benelux.
Publicis Groupe announced the acquisition of Tremend in January. The value of the deal was not disclosed.
Tremend will serve as the newest global delivery center for the group's Publicis Sapient solution hub, Publicis said at the time.
Tremend was founded in 2005 by Ioan Cocan and Marius Hanganu, and serves a large and diverse client base that includes companies such as Carrefour, ING and Orange. With over 16 years of experience in product engineering, Tremend employs over 650 software engineers.
Publicis Groupe is organized into four solutions hubs for easier connectivity and integration: Publicis Communications, Publicis Media, Publicis Sapient, and Publicis Health. Present in over 100 countries, Publicis Groupe employs around 85,000.