“No changes in the shareholding structure of Total Soft are likely to take place this year, while we might see investment fund Global Finance exit the firm’s shareholding structure in the upcoming years,” Dragan said at the conference ZF Digital ’13.
Investment funds Black Sea Fund LP and Global Bulgaria & Romania Growth Fund CV, administered by Global Finance (Greece), bought a majority stake in Total Soft in April 2005.
According to Trade Registry data, the firm is controlled by Ferabosco Investments Limited (Cyprus) – 90.5%, Liviu Dragan – 7.9% and Florin Manea – 1.6%.
Total Soft was set up 16 years ago and employs over 400 people. It is one of the largest local business software providers.
Its sales rose 1.6% on the year to 93.21 million lei (EUR21 million) in 2012, according to Finance Ministry data.
Dragan said Total Soft has a “generous” acquisitions budget and is targeting companies complementing its business.
In May 2010, Dragan said Total Soft allotted EUR40-60 million to buy IT companies in Poland and Turkey. (EUR1=RON4.437)