Turks from Logo Software Investment completes TotalSoft acquisition

0 83

Logo Software Investment, subsidiary of Logo Yazılım Sanayi ve Ticaret A.Ş., one of the largest software companies in Turkey, acquired the Romania’s TotalSoft shares for EUR 30 million and an equity value of EUR 30.25 million, a press release informs.

The acquisition was financed through cash (57 percent) and bank financing (43 percent). Liviu Dragan, founder of TotalSoft will continue to lead the operations of the company as CEO.

“Due to prevalent synergies we expect the acquisition to contribute to our continuing growth in coming periods,” TotalSoft’s officials stated.

Total Soft had an EBITDA of EUR 3.48 million in 2015 and is expected to reach an EBIDTA of EUR 4.3 million in 2016. Total Soft reported revenue of EUR 21.3 million and EBITDA of EUR3.48 million in 2015. In the first 6 months of 2016, Total Soft realized revenues of EUR 10.65 million and EBITDA of EUR 1.97 million.

The non-binding agreement signed between TotalSoft and Ferabosco Investments Limited and South Eastern Europe Fund LP on April 4, 2016 for consideration of a share purchase in Total Soft S.A. in Romania has been successfully concluded.

According to the estimates of IDC and PAC, Romanian EAS market is expected to grow with a EURO CAGR of 8.3 percent-12.1 percent over the next 5 years.

TotalSoft with its enterprise level customer portfolio is a leading player in this market and is one of the few companies offering end to end services. The company has a growing international business where international sales make up 23 percent of total sales in 2015.

The acquisition of TotalSoft is expected to enable Logo’s growth in international markets, gain a competitive position in specialized vertical markets like finance, leasing, medical and agriculture, provide an opportunity to tap the highly qualified R&D pool of Romania and be able to transfer Logo’s SME know-how into Romania.





- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More