Arobs Transilvania Software, one of the largest technology companies listed on the Bucharest Stock Exchange, has sold its entire stake in Arobs Polska to WB Electronics.

Before the sale, the company acquired the 5.66% stake held by Michal Drogosz, enabling the subsequent transfer to WB Electronics of 100% of the share capital of Arobs Polska, the company said in a filing with the Bucharest Stock Exchange. The filing did not disclose the value of the transaction.

The decision to sell comes as the company pursues a focus on “areas where the group has established capabilities, can leverage international synergies and sees the most relevant growth opportunities.” These areas include software and engineering services for the automotive industry, IoT and telematics, enterprise software, life sciences and travel.

Arobs Polska focuses on developing electronic solutions for satellite applications, giving it a distinct profile compared with the group’s core business lines. Its activity is characterized by extended development cycles, projects carried out predominantly under institutional programs, and specific capital and infrastructure requirements, Arobs explained.

The integration of Arobs Polska into WB Electronics will ensure the continuity of ongoing projects and provide the team with access to an industrial platform and a portfolio of programs suited to the specific nature of its activities, the company said.

The transaction does not affect the current operations of Arobs Transilvania Software.

(Photo: Arobs Facebook Page)

simona@romania-insider.com