Hitachi group takes over Romanian IT firm Fortech
GlobalLogic Inc., a Hitachi Group company and Digital Engineering leader, announced that it signed a definitive agreement to acquire Fortech, one of Romania’s largest leading independent digital engineering firms.
“Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution,” stated Nitesh Banga, President and CEO, GlobalLogic.
“This acquisition will further enhance GlobalLogic’s presence in Europe and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong backing of GlobalLogic and Hitachi. We are excited to welcome Fortech and their talented people to the GlobalLogic family,” he added.
The terms of the transaction were not disclosed.
Under the agreement, Fortech will continue to operate with its existing leadership and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approval and is expected to close by the end of Calendar Q4, 2022.
Headquartered in Cluj-Napoca, where it was founded in 2003, Fortech also holds engineering hubs in Oradea, Iasi, and Brasov. It served hundreds of clients through more than 1,000 digital projects throughout nearly two decades of operation.
With over 1,100 employees, Fortech supports top-tier clients across a wide range of industries. Fortech delivers full-spectrum digital engineering services, including Architecture Design, Software Development, DevOps, Quality Assurance, and Data Analytics.
The company has successfully architected, built, and maintained products for clients across numerous industries with a focused specialization in Cloud, IoT, and SaaS. Fortech holds deep domain experience in six key high-growth verticals: Automotive, Banking/Finance, Healthcare, Manufacturing, Professional Services, and Technology/Media/Telecom.