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Two IT companies from Oradea and Timisoara bought by Eleco from the UK

Local Silvia
Two IT companies from Oradea and Timisoara bought by Eleco from the UK
Two IT companies from Oradea and Timisoara bought by Eleco from the UK
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  • Vlad Andriescu

The software companies Vertical Digital and Sons of Coding, based in Oradea and Timișoara, have been acquired for an amount of 1.3 million euros and a contingent value of 250,000 euros by Eleco plc, a software provider listed on the Alternative market Investment Market on the London Stock Exchange.

The acquired companies have experience in providing agile software development, technical consulting and development solutions to numerous European and multinational end customers, including Lufthansa Technik, PwC, VW Financial Services and Zoopla.

Eleco is an international specialist provider of software and related services for the built environment, through its brands Elecosoft, BestOutcome and Veeuze, from centers of excellence in the UK, Sweden, Germany, the Netherlands, the USA and now Romania.

The acquisition will enhance Eleco’s capabilities, including serving and scaling its customers by connecting systems and providing technical consulting that will accelerate their digital transformation. The acquisition will also increase internal research and development capacity, which will further improve product turnaround times.

AdnumusRomanian M&A consulting company with international experience, successfully brokered the acquisition Vertical Digital and Sons of Coding.

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“We thank all parties for the trust placed in a purchase that confirms the traction that Oradea is gaining, both in terms of business potential and local talent and capabilities. We are delighted to have managed to attract a renowned international company – Eleco, listed on the London Stock Exchange – and to open the international markets to the exceptional technical talent that Romania has to offer”, he stated Alex Suciu, Managing Partner, Adnumus.

Adnumus is a consulting firm specializing in the mediation of mergers and acquisitions (M&A) and business transfers, led by a team of brokers with proven international experience. The firm’s core expertise is in identifying business buyers and sellers, negotiating offers, coordinating the transfer process, raising funds and identifying business opportunities.


The article is in Romanian

Romania

Tags: companies Oradea Timisoara bought Eleco

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