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Jun 09, 2023 12:30 EEST
June 9 (SeeNews) - Software solutions provider SoftOne Romania, part of Greece-based SoftOne Group, said that it has acquired QBS Retail & Logistics, a business software implementation specialist with over twenty years of experience on the Romanian market, for an undisclosed sum.
Following the takeover, SoftOne Romania is looking to double its workforce and hike its turnover by over 50% on the year in 2023, it said in a press release on Thursday.
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“This strategic move represents an extremely important step in the expansion and development of SoftOne on the Romanian market, which will help us consolidate our presence in the region of Transylvania and serve our existing nationwide clients much more effectively,” Alexandra Lucescu, general manager at SoftOne Romania said.
The new subsidiary was one of SoftOne’s most important local partners and along with the takeover, the buyer is opening a new office in the city of Brasov where QBS is based, Lucescu added.
In 2022, QBS Retail & Logistics booked a net profit of 2.57 million lei ($554,341/516,722 euro) on a turnover of 3.63 million lei, employing 17 people, according to finance ministry data.
Founded in 2013, SoftOne Romania recorded a net profit of 219,124 lei on a 4.36 million lei turnover last year.
(1 euro=4.9543 lei)
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