EBRD bought into Arobs in a EUR38 million share offering conducted by the company on the Bucharest Stock Exchange and subscribed by retail and institutional investors. EBRD did not say how large its investment was.
The EBRD investment will support a fast-growing, founder-owned business with the potential to become a top-tier software development company both through organic growth and mergers and acquisitions, the bank said in a statement.
Around 80%-90% of the primary proceeds will support Arobs’ acquisition strategy, enabling it to become a regional leader by accessing new markets, diversifying risk across countries and reducing client concentration. The remainder of the primary proceeds will be used for working capital purposes and support Arobs’ organic growth.
(English version by Loredana Fratila-Cristescu)