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Romania's Softbinator Technologies to buy local peer WiseUp

Romania's Softbinator Technologies to buy local peer WiseUp Daniel Ilinca, founder and CEO of Softbinator Technologies. Source: Softbinator

BUCHAREST (Romania), November 9 (SeeNews) - Romanian software development company Softbinator Technologies said on Tuesday that it has started a procedure to take over local peer WiseUp.

Softbinator will finance the deal with part of the capital raised through a private placement on the Bucharest bourse in September, it said in a press release.

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Following this transaction, Softbinator will take over WiseUP and expand its technical expertise and client portfolio. The founders of WiseUp will join the management team of Softbinator Technologies.

"The acquisition of WiseUp fits perfectly in our race to develop products for the most innovative clients across the globe, and to give another face to the traditional outsourcing by refining our end-to-end services," Daniel Ilinca, founder and CEO of Softbinator Technologies, said.

"[...] 2021 was the year with the highest growth in the history of WiseUp. The forecasts for 2022 are even better. As part of Softbinator Technologies, we will be able to do things even faster," George Dita, cofounder, product manager and CEO of WiseUp, said.

After raising 6 million lei ($1.4 million/ 1.2 million euro) in the private placement, Softbinator started expanding its operations in the US market. It will start working on opening an office in California by the end of the first quarter of 2022 and is considering entering Texas and Tennessee.

Softbinator Technologies, with a strong focus on blockchain, artificial intelligence, and devops, has over 100 programmers and collaborators in Bucharest and Constanta.

It holds stakes in the recruitment company TechMind (25%), product design agency Ixperi (75%), and in Yummdiet (9.5%), an intelligent platform for healthy nutrition and well-being recommendations.

WiseUp was founded in 2017 by George Dita, Radu Dita, and Cristi Spiru and it is focused on building and prototyping end-to-end digital products and services for innovative companies in the start-up and enterprise area.

(1 euro=4.9489 lei)

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