December 23 (SeeNews) - Romanian IT company AROBS Transilvania Software [BSE:AROBS], parent of the AROBS group, said on Friday that it approved plans for the takeover of Moldovan companies AROBS Software and TrackGPS for up to 3.47 million euro ($3.68 million).
The acquisition of the two companies will target either their entire share capital or a majority stake, AROBS Transilvania said in a press release.
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No information about the two Moldovan's companies current ownership structure was immediately available.
AROBS Software Moldova has over 11 years of experience in delivering hardware and software services for the automotive industry, as well as high-level technologies, life sciences, and enterprise solutions.
TrackGPS is a complete fleet management and tracking solution that delivers automated reports and analyses on daily or monthly fleet tracking.
AROBS Transilvania Software was established in 1998 and is focused on creating custom software for a range of industries. The company was listed on the AeRO market of the Bucharest Stock Exchange in December 2021.
In 2021, AROBS Transilvania Software netted a profit of 43.2 million lei ($9.35 million/8.81 million euro), while turning over 169.3 million lei and employing 592 people.
AROBS Transilvania Software shares traded 0.23% lower at 0.8640 lei as at 1440 CET on Friday on the Bucharest Stock Exchange.
($=0.9421 euo)