Munich-based IT group Allgeier acquired two thirds of the shares of iQuest, a company established in 1998 by Romanian entrepreneur Cornelius Brody.

iQuest will continue to be run independently and will collaborate closely with Allgeier to consolidate its presence in Europe and extend to other markets, such as the USA. The company will also further develop its software services and solutions portfolio.

iQuest is now headquartered in Germany, and has local teams in Poland, Switzerland, Romania and the USA. In Romania it has development centers in Cluj, Bucharest, Sibiu, Braşov and Craiova.

The company has over 650 employees, and annual sales of over EUR 30 million. With a turnover of over EUR 26 million in 2017, it is one of the largest 20 software firms in Romania, according to data presented by Ziarul Financiar. Last year, the company had some 368 employees in Romania.

Allgeier has locations in 23 countries on five continents and over 9,000 employees worldwide, including 5,500 high-end software developers and more than 1,000 SAP and Microsoft consultants at locations all over Europe, USA, Mexico, Japan, Australia, India, Singapore, Malaysia, Vietnam and China.

(Photo: iQuest Facebook Page)

editor@romania-insider.com