BVB-listed IT&C group Bittnet (BVB: BNET) signed the sale and purchase agreement for the full takeover of 2net computer SRL, a Brasov-based Romanian IT&C integrator with a focus on central Transylvania.

The transaction price will be RON 2.56 mln (EUR 0.5 mln) and will be adjusted accordingly for the state of the company ("net debt") and non-core assets.

In addition, Bittnet's division Dendrio will take over a shareholder loan worth RON 1.2 mln (EUR 240,000).

The 2net computer operations will be integrated into Dendrio Solutions, part of the Technology Division of the Bittnet Group, thus consolidating the "Cloud & infrastructure" business segment in the Transylvania region after the acquisition of TopTech in February (for EUR 2.4 mln).

2net computer achieved total revenues of RON 25 mln and an estimated EBITDA of RON 2 mln, as well as a net profit of approximately RON 1.4 mln last year.

(Photo courtesy of the company)

andrei@romania-insider.com