Romanian software development company Softbinator Technologies (ticker symbol CODE) said it started the takeover procedures of WiseUp, a local software development company founded four years ago by George Diţă, Radu Diţă and Cristi Spiru.

For this transaction, the company will use part of the RON 6 mln (EUR 1.2 mln) raised in September with a private placement prior to its IPO at Bucharest Stock Exchange planned to take place by the end of the year on the special segment AeRO. The placement valued the company at EUR 12 mln and was heavily oversubscribed.

WiseUp's acquisition fits perfectly Softbinator's plans to refine its end-to-end services, said Daniel Ilinca, founder and CEO of Softbinator Technologies.

WiseUp, the company founded in 2017 by George Diţă, Radu Diţă and Cristi Spiru, is focused on building and prototyping end-to-end digital products and services for innovative companies in the startup and enterprise area. Collaborations include big names such as Microsoft, Siemens, Deloitte, BRD and Porsche.

"Beyond the excellent skills of future colleagues in the software development team, the impressive knowledge of the founders George, Radu and Cristi in terms of practices and processes applied in product development will help us deliver more, faster, but also to a higher quality," Ilinca explained.

andrei@romania-insider.com

(Photo source: the company)