January 20 (SeeNews) - Romanian IT group Bittnet Systems [BSE:BNET] said that its member company Dendrio Solutions has signed a 22.76 million lei ($5.66 million/ 5.67 million euro) framework agreement with the ministry of defence to provide IT&C equipment.
The contract is valid until January 19, 2024, Bittnet Systems said in a statement filed with the Bucharest Stock Exchange, BVB, on Tuesday.
There is no obligation for the client to reach the total value of the framework agreement, according to the statement.
IT&C integrator Dendrio Solutions provides cloud, security and networking solutions. It has implemented over 19,030 projects so far, according to its own data. The company was formed after the acquisition of computer aided design software development company Gecad in 2017. In 2019, Dendrio merged with the IT&C Integration division from Crescendo International in 2019.
Bittnet Systems Group was founded in 2007 by Mihai and Cristian Logofatu. The company focuses on IT training and delivering end-to-end IT infrastructure services and solutions from companies like Cisco, Microsoft, Dell, VMware and HP, among others.
It was the first Romanian IT company to be listed on the BVB, in April 2015.
Bittnet's shares traded 5.52% higher at 0.7260 lei as at 0917 CET on Wednesday on the BVB.
(1 euro=4.8742 lei)