Arctic Stream acquires 23% of Data Core Systems

Arctic Stream, IT infrastructure and security integrator and issuer listed on the Bucharest Stock Exchange (BVB), announces the signing of a memorandum of understanding regarding the transfer of 23% of the share capital of Data Core Systems (DCS), one of the leading service providers of cyber security from Romania.

Data Core Systems is one of the most relevant players on the cybersecurity market in Romania, offering complete solutions and services such as prevention, detection and response to all types of cyber threats. The team holds more than 120 top-level technical certifications and has partnerships with more than 50 technology providers. The company’s clients include: 10 of the top 10 banks and the main utility providers in Romania, the top 5 insurance companies in the CEE region, along with companies from telecom, manufacturing, media, retail and other fields.

Completion of the acquisition is expected for the third quarter of this year, after completion of all due diligence procedures. Currently, the target market value of the company Data Core Systems SRL is 43 million lei (about 8.65 million euros). The structure of the transaction will be made up of a cash component, i.e. of the reserves made up of Arctic Stream’s profit in previous years (according to the strategy approved by the shareholders), of AST shares and bonus payments for the fulfillment of some objectives agreed by the parties.

“Through the signed memorandum, we are taking a first step for the integration of the Arctic Stream and Data Core Systems businesses in what will become the strongest technology pole in terms of the integration of IT solutions and cybersecurity services in Romania. Both companies have rich experience in complementary fields, certifications from top suppliers, an extensive client portfolio in several fields, but – above all – we share the same values and perspectives on business development. This is the beginning of a strategic partnership in which together we will become one of the strongest players in the IT services market. To achieve this goal, we rely, first of all, on maintaining and increasing the quality of the team,” said Dragoș Diaconu, founder and General Director of Arctic Stream.

“Data Core Systems is in a decisive phase of expansion of its activity, leading us to accelerate the development of our business areas by initiating a strategic collaboration with Arctic Stream. This company, recognized for sharing our principles and visions, represents the ideal partner in this endeavour. We are deeply convinced that the diversity of opportunities presented by the integrated services market of IT solutions and the cybersecurity sector will allow us to highlight the added value of this synergy. This partnership will not only underline our differentiation within the market, but will also provide our customers with an expanded portfolio of IT services and solutions characterized by superior integration and enhanced responsiveness. Therefore, we express our full confidence in the potential of this alliance to generate significant value for all stakeholders involved,” said Cristian Mănescu, general manager of Data Core Systems.
Arctic Streamcyber securituData Core Systems (DCS)IT
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