April 4 (SeeNews) - UK-based Nuvias Group acquired Romanian cyber security and networking distributor group Netsafe, the buyer said on Monday, without disclosing the price.
“Nuvias sees significant promise and opportunity in the Eastern European market. With Netsafe we have a platform for considerable growth in this region. We have a very strong match in our philosophy and approach to specialist value-added distribution, making for a solid base for accelerated growth,” Simon England, Nuvias Group CEO, said, as quoted in a company press release.
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Netsafe will continue operating under its existing brand, under the umbrella of the Nuvias Group.
Netsafe is a value-added distributor of IT Security, Networking and Wireless services, which was founded in 2004.
Netsafe recorded an operating profit of 4 million lei ($889,240/809,200 euro) on a turnover of 40 million lei in 2020, according to finance ministry data.
The Nuvias Group is an IT distributor with a diverse roster of services.
According to a Nuvias Group statement filed with the UK Companies House, the group booked a turnover of 415 million British pounds ($544 million/494 million euro) and an operating profit of 3.7 million pounds for the year ended on March 31, as .
(1 euro = 4.94 Romanian leu)