The company announced the launch of dendrio division, which will provide the IT integrator services previously provided by Bittnet and Gecad Net, a company that entered Bittnet’s portfolio in the third quarter of 2017.
In the coming period, Bittnet Systems plans to focus on two fields of activity, education and technology, respectively, and on extending its foothold on international markets.
“The new division of business lines, split between Bittnet and dendrio, has been developed while considering the future acquisitions already planned. We are now running a company which has a clear structure and focuses on three key vectors for growth – IT training, IT integration and the extension of our foothold globally. We expect this structure to generate revenue of RON100 million until 2020 “, said Bittnet CFO Cristian Logofatu.
Bittnet Systems has a market capitalization of RON43.99 million (EUR9.54 million) after its shares have increased by 25.22% since the start of 2018, amid transactions worth over RON2.59 million.
The company’s two founders, Cristian Logofatu and Mihai Logofatu, are the biggets shareholders, holding stakes of 27.21% and 26.64%, respectively. Razvan Capatana is the third largest investor.