March 6 (SeeNews) - Romanian engineering and technology company Simtel Team [BSE:SMTL] said on Monday that it has acquired a minority stake in local software company Custom Soft Solutions (CSS).
Simtel Team bought 29% of the share capital of CSS, while its subsidiary ANT Power bought another 20%, Simtel Team said in a report filed with the Bucharest Stock Exchange.
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The remaining 51% of CSS is owned by the company's founders.
Custom Soft Solutions develops a platform which will help clients monitor energy consumption and production systems.
Simtel Team was founded in 2010 by three Romanian entrepreneurs - Iulian Nedea, Sergiu Bazarciuc and Radu Vilau. The company is listed on the AeRO market of the Bucharest Stock Exchange and operates in three business areas - telecommunications, green energy, and industrial automation.
Simtel Team's shares traded 1.64% higher at 27.9 lei ($6.03/5.67 euro) as of 1106 CET on Monday, bourse data showed.
(1 euro=4.92048 euro)