BVB-listed IT&C group Bittnet pays EUR 2.4 mln for local peer
BVB-listed IT&C group Bittnet (BNET) signed the sales and purchase agreement for the full takeover of Toptech, an IT&C integrator with relevant business in Transylvania.
Andrei Chirileasa · Journalist
· Updated · 1 min read
BVB-listed IT&C group Bittnet (BNET) signed the sales and purchase agreement for the full takeover of Toptech, an IT&C integrator with relevant business in Transylvania.
The deal is subject to Competition Council approval.
TopTech's operations will be integrated into Dendrio Solutions, part of the Bittnet Group's Technology Division.
The transaction price is RON 12 mln (EUR 2.4 mln) and will be partially paid in cash (RON 7 mln), and the rest to be settled in BNET shares.
TopTech is a Romanian IT&C company founded in 1992 in Deva. Today, TopTech uses technologies with leading technology manufacturers, such as Dell and HP. The company has over 80 employees, being one of the most important IT&C integrators in central and western Romania.
Following this transaction, Dendrio expands its geographical coverage nationwide. Currently, the company is mainly present in Bucharest and southern Romania.
In 2021, TopTech achieved a turnover of RON 55 mln, an estimated EBITDA RON 2.4 mln and a net profit of RON 1.6 mln.
(Photo: Denisismagilov/ Dreamstime)
