By Edwig Ban
Connections Consult SA, leader on the digital transformation market in Romania, listed on the AeRO market of the Bucharest Stock Exchange (BVB), announces the acquisition of 100% of the shares of Brusch Services SRL, specialized in IT consulting and software development in nearshoring regime ( provision of services to markets close to Romania).
It is the first acquisition this year made by Connections Consult SA, in the context in which the company was recently listed on the AeRO market of the Bucharest Stock Exchange, a listing that marks a new stage of business development, according to a press release.
Brusch Services SRL is active in three markets (Romania, Germany, Finland) and achieved a turnover of approximately 1 million euros in 2020. Among the clients in the company’s portfolio are multinational companies from Banking & Financial Services, Automotive, Retail , etc.
Offering consulting at all levels of software development, but especially with solid experience in implementations of Oracle, SAP and software development based on Java technology, Brusch Services SRL will become a management platform for highly qualified talents in technology, within the Connections Consult SA group, and will be integrated in the software development vertical. The opportunities to access foreign markets – especially the German one – offered by Brusch Services SRL – will allow the group to expand its client portfolio outside Romania, in the financial services industry.
“The reasons why we decided to make this transaction are the strategy for consolidating and developing skills in technology, access to foreign markets and the need to create a talent management platform that will give us a significant advantage in the competition to attract qualified human resources – probably the biggest challenge in our industry. We estimate that the acquisition of Brusch will bring an increase of at least 10% of the group’s turnover and 15% of gross profit, following the consolidation of the financial statements, in 2022 “, says Bogdan Florea, founder and CEO of Connections Consult SA.
Gustav Bruckner and Axel Schwartz, former shareholders of Brusch Services SRL, left the company’s shareholders, after a period of almost 7 years, selling their shares to Connections Consult.
“We are pleased to be able to transfer ownership and operation of the company to the Connections Group and are confident that, through integration, Brusch Services will have new development opportunities. By building synergies with other companies in the group, Brusch Services will be able to become what its new shareholders want, namely a solid technology consulting center that will aggregate advanced skills. I am confident, knowing the management of Connections, that their strategic plans will be happily completed with the new acquisition. ” said Gustav Bruckner, an entrepreneur with over 35 years of experience in the IT industry.
One of the strategic directions of Connections is attracting talent, the team of senior programmers developing complex projects and specific products. Connections Consult is one of UiPath’s main partners in Romania, with which it has implemented automation processes in key industries.
Connections offers businesses the possibility to improve and align with current digital trends, by using technology tools to boost their strategical KPI and adapt to global market challenges.
Founded in 2005 in Bucharest, Connections is a European innovative group of tech companies. Over the years, the company re-invented several times, passed through different stages and gained robustness and maturity. 2016 marked the first steps of regional expansion by opening offices in Belgrade – Serbia and Sofia – Bulgaria.
In Romania, Connections operates two delivery centres in Bucharest, alongside with the HQ and several representative offices in Germany, France, Netherlands and Saudi Arabia.
By Edwig Ban