Qualitance, an international tech and innovation company founded in Romania, was sold by its founders Radu Constantinescu and Ioan Iacob to Alten, a French technology and innovation consultancy and services group with international operations in 30 countries.

Radu Constantinescu owned 48.4% of the company and Ioan Iacob 38.7%, with the remaining shares distributed as incentives or under sale contracts, Ziarul Financiar reported.

The sale was “a natural step in the evolution of the company,” said Radu Constantinescu.

RPTR law firm acted as a sell-side consultant. Completion of the transaction is subject to approval by the Competition Council and other conditions precedent agreed by the parties.

Through this acquisition, Alten Group will strengthen its presence in Romania and increase its ability to access new projects and clients from Central and Eastern Europe.

Qualitance is an international tech and innovation company founded in Romania that builds digital products and businesses for global organisations and start-ups.

andrei@romania-insider.com

(Photo source: Facebook/Qualitance)