February 9 (SeeNews) - Romanian cybersecurity company Safetech Innovations [BSE:SAFE] has opened a subsidiary in the UK, it said.
Safetech Innovations Global Services Limited was incorporated on February 8 and has its headquarters in London, the company said in a filing to the Bucharest Stock Exchange (BVB) on Tuesday.
"The opening of the subsidiary in the UK marks the beginning of the international expansion of the Company through establishment of dedicated teams and offices abroad," Safetech said.
Safetech Innovations holds 67% of the share capital of its UK arm, which will be led by director Liana-Ancuta Stancu. The subsidiary will mainly be active in business and domestic software development, information technology consultancy activities, other information technology service activities and management consultancy activities other than financial management.
Safetech Innovations was established in 2011 and provides data protection services, identification of vulnerabilities and risks, implementation of cybersecurity solutions and measures and response to cybersecurity incidents.
In January, the company started trading on AeRO, the alternative market of the BVB.
Safetech shares traded 3.43% higher at 12.06 lei ($2.8/2.4 euro) as at 1008CET on Wednesday on the BVB.
(1 euro=4.9458 lei)