Romanian technology company AROBS Transilvania Software (BVB: AROBS) announced the complete takeover of AROBS Software SRL and AROBS TrackGPS SRL from the Republic of Moldova, owned by Voicu Oprean. The company’s shareholders approved the two transactions, which together near EUR 3.5 million, during their December 22 meeting.

“The two transactions approved during the GSM fall within the parameters of previous acquisitions made by AROBS, in the M&A strategy of the AROBS group, and were mentioned in the listing memorandum. Therefore, integrating the two companies from the Republic of Moldova into the AROBS group represents a natural step in consolidating and developing its activities. […] The inclusion of the two companies in the group’s structure and, implicitly, in the consolidated financial results will provide AROBS investors and shareholders with a clearer perspective on our activity in the Moldovan market,” said Voicu Oprean, founder and CEO of AROBS.

AROBS Software mainly operates in software engineering for the automotive industry (electric and autonomous cars) and software development for the latest technologies (IoT and life sciences). It is a well-known company in the labor market in the Republic of Moldova due to its partnerships with universities and professional associations, involvement in education projects for students, and building the business ecosystem. The value of the transaction is EUR 2.96 million.

Meanwhile, TrackGPS by AROBS Moldova has extensive experience in fleet management for companies in all industries, with an active client portfolio of about 450 companies, with approximately 5,000 monitored transport units and about 5,000 installed devices. In this case, the value of the transaction is EUR 0.51 million.

“The company’s management will focus on signing and completing the two transactions in the following period. At the financial level, AROBS will include the two companies’ results in the consolidation as of the following year’s first quarter,” reads the press release.

AROBS Transilvania Software is listed on the AeRO market of the Bucharest Stock Exchange as of December 6, 2021. Currently, the company has a market capitalization of approximately RON 790 million.

AROBS Transilvania Software provides software services and solutions in various industries, having approximately 70 partners of the Software Services business line located in Europe and America and more than 10,000 clients of the Software Products business lines from Europe and Asia. AROBS is present in 11 locations in Romania and eight abroad, and 950+ AROBS specialists and collaborators build solutions for the future in the Automotive, Embedded, Life Sciences, Travel, IoT, Fintech, and Enterprise sectors.

irina.marica@romania-insider.com

(Photo source: Facebook/AROBS)