AROBS Transilvania Software, the largest technology company listed on the Bucharest Stock Exchange, announces the signing of a contract for the takeover of Enea Software Development Software Services (Enea Services Romania SRL), a wholly-owned subsidiary of Enea Software AB, whose parent company Enea AB is listed on Nasdaq Stockholm. Through this transaction, the largest in the company’s history, AROBS will strengthen its Software Services division by integrating into the group a number of approximately 160 employees and will further strengthen its presence in Romania and in the USA, expanding at the same time the portfolio of clients on the European and American market.
“Our expansion plans must continue this year as well, in line with what we announced at the time of our listing on the AeRO market of the Bucharest Stock Exchange. We continue to strengthen our expertise in software development, especially embedded technologies and enterprise solutions, but we also aim to expand into our key markets by conducting M&A transactions. We assure our investors that we are looking for exceptional companies with steady growth, a successful management team and synergies with our goals and culture. Enea Software Development Services fits in perfectly with our vision and we welcome new colleagues in the larger AROBS family. We are confident that we will continue to add value to our customers together. We are committed to providing an exceptional level of expertise and services for all Enea Software Development Services customers and we want to capitalize on the synergies between the two companies, ”said Voicu Oprean, founder and CEO of AROBS.
The value of the transaction amounts to 17.9 million euros and includes the acquisition of Enea Services Romania SRL and the entire software development division of Enea AB together with the US operations (local contractors and customer contracts). In order to complete the transaction, AROBS will use part of the capital attracted from BVB investors during the private placement for its shares, which took place in October 2021, as well as bank financing.
“At AROBS we found the ideal place for Enea’s software development services division. The divested business line will be able to capitalize on the services provided by AROBS internationally by offering added value to customers in multiple fields. AROBS will also become a valuable software service provider for Enea. With this divestment, Enea will focus on stepping up its business as a software specialist for the telecommunications and cybersecurity sector, where we see opportunities to challenge established competitors and increase our market share, ”said Jan Häglund, President and CEO of Enea AB. With a total turnover of approximately 12 million euros in 2021, Enea Software Development Services offers a mix of skills with complete services, including software design and architecture, development, porting, integration, validation and assurance of quality, with expertise in embedded systems – software and hardware, but also in outsourced research and development, in various fields, such as medical, maritime and embedded devices. The company has supported customers to build solutions that have been used in more than 20 countries on four continents – Europe, North America, Asia and Africa.
This is the second transaction made by AROBS since the listing announcement on the Bucharest Stock Exchange, after the acquisition of Berg Software Timișoara at the end of 2021 and the sixth in the last four years.
AROBS continues to implement the expansion plan both nationally and internationally, in order to accelerate growth and strengthen its position in the markets in which it is present. Starting with 2018, AROBS acquired two other companies that complete the Software Services division: CoSo in the Netherlands and Belgium, as well as Berg Software Romania. Four other companies have joined the Group as part of the software business lines: SAS Grup, SoftManager and UCMS, from Romania, and Skyshield from Hungary.
On behalf of AROBS, the transaction was facilitated by Radu Tărăcilă Pădurari Retevoescu (RTPR) and TS Partners ESPAND, while Enea AB was assisted by Invescom Corporate Finance as M&A advisor, and Popovici Nitu Stoica & Asociatii on legal.
AROBS Transilvania Software is the largest technology company listed on the Bucharest Stock Exchange. AROBS provides software services and solutions in a variety of industries, with approximately 70 partners in the Software Services division in Europe and the Americas, and more than 10,000 customers in Europe and Asia use the company’s software products. AROBS is present in 10 locations in Romania and 7 abroad, and 950+ company specialists are building the solutions of the future for Automotive, Embedded, Life Sciences, Travel, IoT, Fintech and Enterprise.