AGISTA announces its exit from Dendrio Solutions and the reinvestment of the profits obtained from this transaction in increasing its stake in Fort SA.
The value of the exit from Dendrio Solutions (part of Bittnet Group), for a holding of 11.7%, is approximately 3.4 million EUR. AGISTA’s exit from Dendrio Solutions, an IT solutions and services integrator, was made with a return of 60% and an Internal Rate of Return (IRR) of 22%, achieved over two and a half years.
“Our initial strategy was to inject capital into Dendrio to support the company in consolidating its market position through M&A. This strategy has delivered results – and after two and a half years, the company has made significant progress in operational integration in the cloud and infrastructure segment. Therefore, the decision to exit came naturally in this process,” stated Anca Manițiu, Executive Board Member of AGISTA.
Regarding the investment in the cybersecurity company Fort, following the acquisition transactions, AGISTA increased its holding from 4.4% to 38.5% and, together with Impetum Investments, became the majority shareholder with a total stake of 63.3%, acquiring the entire shareholding previously owned by Bittnet Group.
“The Fort transaction is part of AGISTA’s new investment strategy, which seeks to diversify strategic industries, focusing on sectors with growth potential, such as cybersecurity. Thus, we are pivoting from a minority position to a majority one, from a generalist to a niched company, which is very much in line with current trends. Cybersecurity offers significant development opportunities, especially given the highly fragmented local cybersecurity market, with consolidation possibilities and solid profit margins, particularly in consulting services. We are expanding our stake in Fort SA, which aligns with our investment thesis, aiming to scale it and take it to the next level,” added Anca Manițiu, Executive Board Member of AGISTA.
The two transactions are subject to approval by the Commission for the Examination of Foreign Direct Investments (CEISD).
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