RO IT group Bittnet envisages M&A deals worth EUR 40 mln

Romanian IT group Bittnet Group (BNET), active in education, security and software development, announced on July 30 that it would begin a new round of M&A transactions that will strengthen its position, Economica.net reported.

The company convenes its shareholders on September 7 to approve five potential investments totaling RON 16.9 mln (over EUR 3 mln), as well as to vote on the mandate of the Board of Directors in carrying out M&A transactions on the local and regional market with a total cumulative value of RON 200 mln (EUR 40 mln).

“With the new investments, we are getting even closer to the target of having a turnover of EUR 100 mln, a target that we have promised to shareholders for 2025,” said the group’s CEO Mihai Logofatu.

Bittnet Group management seeks shareholders’ approval for the acquisition of a 61% stake in software developer Nenos Software and 60% in Nonlinear, 70% in the cybersecurity company ISEC Associates, as well as the acquisition of 100% in the IT&C training company, Computer Learning Center.

Following the proposed transactions, the Technology Division will increase both as a geographical footprint, but also as a typology of solutions offered by Bittnet Group, it is specified in the press release sent by the company.

(Photo courtesy of the company)