Bittnet Systems, the first Romanian IT company listed on BVB’s AeRO, took over GECAD NET, both companies being significant players on the IT market in Romania, a press release informs. The transaction amount was not disclosed.
With this acquisition, Bittnet aims to double turnover, up to EUR 10 million, but also to expand the customer base six times, the release reads.
”We believe that the IT market in Romania has to go through a consolidation process, as is happening globally in almost all areas. The promise made in 2016 to pursue all consolidation opportunities in line with our business model and values is implemented in 2017 when a favorable context led to the acquisition of GECAD NET. (…) The technology focus, which the two companies had separately and which we are going to accelerate it together, is on cloud and cyber security,” Cristian Logofatu, CFO Bittnet stated.
The newly formed team will cover a significantly larger geographic area with an expanded range of services and IT solutions. Bittnet has local offices in Cluj, Brasov, Sibiu, Timisoara and Iasi, and GECAD NET has over 100 resellers across the country.
Bittnet Systems was established in 2007 by Mihai and Cristian Logofatu, who gathered a small but enthusiastic technical team, all having training experience gained at Credis Cisco Networking Academy since 2000. Since inception, the company decided to focus on delivering IT trainings and end – to – end networking solutions and services based on technologies from market leaders like Cisco Microsoft, Dell, VMware, HP etc. Bittnet started also cooperation on Cisco trainings with Siemens, Datanet Systems and Romtelecom (currently Telekom Romania).
GECAD NET has over 25 years of experience in providing software solutions and services in Romania and is one of the oldest Microsoft partners in the local market. The company currently has over 12,000 clients in areas such as telecom, finance, banking, construction, energy, oil and gas, and more.