Quest Global Romania joins AROBS Group as part of equity-based transaction

AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, has signed an agreement under which Quest Global Romania will join the AROBS Group, strengthening its position in software engineering services. The transaction will be settled entirely through the issuance of new AROBS shares, with no cash component, and the newly issued shares will be subject to a one-year lock-up period from the closing date.

This is AROBS’ first acquisition in which the full consideration is paid in equity, in line with the M&A strategy approved by shareholders following the company’s transfer to the Main Market of the Bucharest Stock Exchange in September 2023, the group said.