February 2 (SeeNews) - Romanian IT company AROBS Transilvania Software [BSE:AROBS], parent of the AROBS group, said on Thursday that it has acquired 94% shareholding interest in SYDERAL Polska, a Polish electronics and software specialist in the aerospace sector.
Following the transaction, SYDERAL Polska will continue to be managed by its current CEO, Michal Drogosz, who will also remain a shareholder with a 6% stake, AROBS Transilvania Software said in a statement.
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The acquisition marks AROBS’s entry into the Polish market and aims to consolidate its business expertise in embedded systems, focusing on automotive, aerospace, medical and marine technology, the company said. The value of the deal was not disclosed.
"SYDERAL Polska’s expertise complements the new business line brought to the group by our colleagues from AROBS Engineering – embedded systems and software development for the aerospace sector," AROBS founder and CEO, Voicu Opreanu, said in a press release issued on the company's website.
SYDERAL Polska was founded in 2016 and has a team of 28 specialists that provide hardware and software solutions for quantum and optical communication, onboard data storage and processing, as well as for control of satellite mechanisms and instruments. For 2022, SYDERAL Polska estimates a 1 million euro ($1.1 million) turnover.
AROBS Transilvania Software was established in 1998 and focuses on creating custom software for various industries. The company was listed on the AeRO market of the Bucharest Stock Exchange in December 2021.
On January 18, AROBS said it acquired Centrul de Soft GPS, known under the CDS brand, a Romanian company specialised in providing fleet management solutions. A month earlier, AROBS shareholders approved plans for the takeover of Moldovan companies AROBS Software and TrackGPS for up to 2.96 million euro and 510,000 euro, respectively. In 2021, AROBS Transilvania Software netted a profit of 43.2 million lei ($9.6 million/8.8 million euro), while turning over 169.3 million lei.
AROBS Transilvania Software's shares traded flat at 0.9380 lei as at 1106 CET on Thursday on the Bucharest bourse.