US Lear group takes over IT startup in northeastern Romania

Lear Corporation, an American company that produces car seats and electronic systems for the automotive industry, acquired the software company Thagora Technology - a startup founded by entrepreneur Mihai Mitrică in Iaşi, the eastern part of Romania.

Thagora Technology, which started operations at the end of 2020, reported a turnover of RON 4.4 mln (EUR 0.9 mln) and a net profit of RON 4 mln (EUR 0.8 mln) for the two months of operations in 2020, Ziarul Financiar reported.

Thagora is a leather cutting system that automates and streamlines the way leather upholstery and leather car interiors are used but can also be used in the furniture industry as well.

As a result of the use of Thagora software and hardware, companies reduce their losses from manual skin cutting and also reduce the need for qualified personnel to perform such operations. The company currently has about 30 employees who make both software and hardware.

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