German company buys Craiova-based IT firm with USD 10 mln

German company QuEST Global, specialized in IT, cars and transports, has fully acquired the Craiova-based firm IT SIX Global Services. The transaction’s value reached USD 10 million, according to Profit.ro information. Local investor Vali Iancu founded the Romanian company 12 years ago. Iancu has now sold all his shares in the IT firm. “The price was very good, competitive, according to international standards in the IT industry,” said Iancu. He will continue running the company for at least another three years. IT SIX Global Services recorded a turnover of RON 22 million (EUR 4.5 million) last year, up 10.8% year-on-year. Its net profit reached RON 4.5 million (EUR 1 million), slightly down compared to the previous year. The German group set up the QuEST Global Engineering Romania company in Cluj-Napoca in October last year. The company is specialized in engineering and technical consultancy. It had 140 employees at the end of last year. editor@romania-insider.com