Romania's AROBS Transilvania Software buying Germany's Infobest

The takeover is part of AROBS Group's broader objective of consolidating its presence both nationally and internationally, the technology company said in a press release.on Tuesday.

"We were driven to complete this transaction considering the great prospects of Infobest and our objective to strengthen our position in Germany and in the larger DACH region," AROBS founder and CEO Voicu Oprean said.

“Based on very successful past years with continuous revenue growth, we decided to join AROBS Group, overcome the limitations of organic growth and to develop the business at an accelerated pace," added Christian Becker, co-founder of Infobest.

Infobest estimates a turnover of around 4.8 million euro ($5.2 million) in 2023. AROBS Group's consolidated financial report will include Infobest's results once the acquisition is closed. The deal is subject to regulatory approval from antitrust bodies.

Once finalised, this transaction will mark the tenth M&A deal closed by AROBS since its listing on the Bucharest Stock Exchange, BVB, in 2021.

Infobest was founded in 1995 in Pulheim, Germany, by former Accenture consultants Yvonne Abstoss-Becker and Christian Becker, before expanding to Romania in 2000. The two co-founders will continue to manage the company after its acquisition by AROBS.

AROBS Transilvania Software's shares traded 0.1% higher at 0.995 lei as of 1618 CET on Tuesday on the BVB.

($=0.9215 euro)