French group GFI, one of the biggest IT services and software providers in Europe, acquired Romanian software company Vauban. The transaction took place via GFI's Polish subsidiary Impaq Spolka, which bought the stakes of Vauban's ten existing shareholders reaching a stake of 99.9% in the company, local Profit.ro reported.

Founded in 2007, Vauban is an important supplier of IT services and software on the Romanian market. The company has over 450 consultants in Romania and serves clients in sectors such as banking, telecom, industry, utilities, and energy. Vauban reported revenues worth RON 48 million (slightly over EUR 10 mln) in 2017. It has offices in Bucuresti, Pitesti, Constanta, and Paris.

The shareholders that sold their stakes are David Coyne (French resident, 32.97%, Easydo Digital Technologies (6.91%), Financiere Saint-Honore (7.52%), Financiere Blackrock Equity (7.52%), Easydo Property Technologies (7.52%), Financiere Black Sea(7.52%), Financiere Centru Istoric (7.52%), Falco Estate Property (7.52%), HUB Techno Consulting (7.49%) and Black Sea Station (7.52%), according to Profit.ro.

With the Vauban acquisition, GFI aims to become one of the leaders of the IT services and software market in Romania. The group's local development plan includes expanding Vaubam's portfolio and setting up a new service center (nearshore), according to a press release of the company.

GFI has over 19,000 employees and recorded a turnover of EUR 1.5 billion in 2018.

editor@romania-insider.com

(photo source: Pixabay.com)