The euro denominated corporate bonds issued by the software developer Qualitance OB will start trading on the Bucharest Stock Exchange – BVB Multilateral Trading System (MTS).
The bonds were bought by 59 investors, out of which 58 are individuals and 1 legal entity, in a private placement carried out by Tradeville as Authorized Advisor.
Established in 2007 by entrepreneurs Ioan Iacob and Radu Constantinescu, Qualitance uses experience design, rapid prototyping and emerging technologies such as AI to create innovative digital products and services for international companies and startups. It is a provider of services and technology solutions for companies such as IBM (for which it is an Education Partner, Business Partner and Core Supplier) and in its client portfolio are companies such as BCR, Raiffeisen, Deutsche Telekom, IKEA, Ford, News Corp, Johnson & Johnson or Virgin Group. Qualitance owns 99% of the share capital of its two subsidiaries abroad, one in USA and another one in Australia. The two founders, Ioan Iacob and Radu Constantinescu, each own 50% of Qualitance shares.
At the beginning Qualitance mainly addressed the outsourcing segment, but in recent years the innovation has become substantial. For the next three years, Qualitance aims, among other things, to significantly expand sales and investments in intellectual property by opening new entities abroad, developing the sales team, expanding the customer portfolio, developing global digital transformation projects in Fortune corporations. 500, but also their own technology platforms.
The parent company and the two subsidiaries ended 2019 with a cumulative preliminary turnover of RON 51.5mn, of which RON 48.7mn represent Qualitance Romania revenues, RON 2.4mn are Qualitance Australia revenues and RON 0.4mn are revenues of Qualitance US, taking into account the elimination of transactions between the 3 companies. The preliminary turnover is 1% above the level at the end of 2018.