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Antonio Eram sold the majority stake in the Netopia group of companies, whose founder he is, to Innova Capital, an important private equity investment fund from Poland, according to StartupCafe.ro.
Netopia, a Romanian online payment processor, was set up in 2003.
“The Netopia Group has consistently demonstrated its commitment to innovation through payment solutions adapted to the online environment and SMS messaging solutions for digital marketing. With the help of the Innova Capital team, we want to accelerate the launch of new innovative solutions in such a dynamic industry as the online payments industry. This strategic move will strengthen Netopia Group’s position as a leader in the local market, offering unprecedented products and services. We are excited about the prospects of this partnership and we are glad to have reached this point,” said Antonio Eram, co-founder and CEO of Netopia Group.
“We analyze with great interest the dynamic developments of the local economy, especially the extraordinary growth potential of digital services. We are delighted to be able to make an investment in one of the most respected leaders among providers of modern payment solutions in the second largest market in Central and Eastern Europe. We want to capitalize on all our experience accumulated so far in the financial services industry to support NETOPIA’s growth and to further strengthen its position on the Romanian payment solutions market,” said Krzysztof Kulig, Senior Partner at Innova Capital.
The acquisition of the majority stake in the Netopia Group is the first transaction carried out by the Innova/7 fund, according to a press release.
The transaction is subject to the Competition Council approval and the fulfilment of the conditions precedent agreed by the parties.
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