Romanian IT&C company GECAD Group recently sold its Axigen Messaging, which allows companies to create their own e-mail server. The buyers are four Romanian entrepreneurs, who also control the Modulo Consulting IT integrator, according to Ziarul Financiar.

The sellers were Radu Georgescu, founder of GECAD Group, and Indian investor Diwaker Singh, previously involved in real estate investments in Romania.

Modulo Consulting's four shareholders who will control Axigen Messaging following this deal are Cristian Daniel Drăghici, 36, Bogdan Moldovan, 36, Ion Nistor, 35 and Vlad Trofin, 35.

This will be Georgescu's fourth exit in the last 11 years, after selling RAV Antivirus to Microsoft in 2003,GECAD ePayment in 2010 to Naspers, and Avangate to Francisco Partners in 2013.

After this deal, GEACD will focus on Internet and eCommerce companies, hence the decision to sell Axigen Messaging, said Radu Georgescu.

Axigen was developed in 2001, and expanded in Romania, and worldwide.

editor@romania-insider.com