January 19 (SeeNews) - Romanian's AROBS Transilvania Software [BSE:AROBS], the parent company of IT group AROBS, said that it has acquired the entire stake of local software solutions provider Centrul de Soft for an undisclosed price.
The financial position of Centrul de Soft will be included in AROBS' balance sheet for 2022, the company said in a press release on Wednesday.
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"Through this acquisition, we confirm the strategic importance of the software products business line, especially fleet management. In 2023, we enter the second year of AROBS on the capital market and aim to continue the accelerated growth through intense M&A activity," Voicu Oprean, founder and CEO of AROBS, said.
Centrul de Soft is a company which develops ERP-type applications and provides solutions for fleet management, fleet monitoring, security applications, or recovering stolen cars. It has a portfolio of more than 1,000 companies with approximately 9,000 monitored vehicles.
AROBS Transilvania Software is an IT company established in 1998 and headquartered in Cluj-Napoca. The company is focused on developing custom software for a range of industries.
AROBS Transilvania shares traded flat at 0.9370 lei ($0.21/0.19 euro) as of 0944 CET on Thursday on the Bucharest Stock Exchange.