S&T Romania, one of the largest integrators of IT&C solutions on the local market, a subsidiary of the Austrian S&T group, has taken over Cronus eBusiness, a company that delivers consulting services in information technology with a turnover of RON 36.3 mln (EUR 7.9 mln) in 2018, Profit.ro reported.

The subsidiary of the Austrian group initially entered this business through a capital increase, and later acquired the whole 100% stake.

Cronus eBusiness was established in 1996 and reported a turnover of RON 36.3 mln (EUR 7.9 mln) in 2018, three times higher than in 2017. The company also posted a net profit of RON 5 mln (EUR 1.05 mln) in 2018, up from losses of RON 0.55 mln in 2017.

S&T Romania reported a turnover of RON 134.9 mln (EUR 29 mln) in 2018, steady from 2017, and RON 3.5 mln losses. Internationally, S&T AG has approximately 3,800 employees and operates in 25 countries.

Previously, the S&T group's Romanian subsidiary bought local firm Fair Value in 2018, and absorbed one of Kapsch's local subsidiaries in the second half of 2019.

editor@romania-insider.com

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