Austrian group buys Romanian IT firm

Austrian group S&T, one of the biggest IT&C integrators on the Romanian market, has bought local company Fair Value, one of the main local partners of German software group SAP, local Ziarul Financiar reported.

Fair Value, founded by entrepreneur Metodiu Mehmet, had a turnover of RON 11.2 million (EUR 2.45 million) in 2017. Meanwhile, S&T reached a turnover of RON 135 million (EUR 29.5 million) in Romania last year.

The Austrian group recently purchased a 30% stake in its Romanian subsidiary from local partner Quality Business Solutions SRL, becoming the single shareholder.

editor@romania-insider.com

(photo source: Facebook/Fair Value)