Romanian software company Zitec increased its turnover to EUR 1.4 million last year and expects its business to continue the growing trend and reach the value of EUR 2 million in 2013, according to the company. Zitec’s online marketing department, developed in 2005, brought the company revenues of EUR 250,000 last year.

In 2012, the company made 80 percent of its business outside Romania, Zitec currently having customers in U.S., Canada, UK, Denmark, Germany, Netherlands, Italy, Romania, Greece, Cyprus, Qatar, Saudi Arabia, Egypt, and the United Arab Emirates. Zitec’s most recent investment was made on the local market, where the company acquired 30 percent stake in HAC!BD publishing.

The Romanian company also plans to increase its number of employees to 80 this year, from 57 in 2012.

In its ten years of activity, the Romanian software company worked on average 1,200 hours for a total of 300 projects. Some of the software products developed by Zitec include Videopublishing - processing platform and video streaming that uses cloud-computing, HotelPeeps - a Facebook application that helps users find hotels, based on friends reviews, Sharoid, Zidox and iZuvio.

Irina Popescu, irina.popescu@romania-insider.com