“Under the agreement, ELKO Group (Akciju Sabiedrība ELKO Grupa), through its local division ELKOTech Romania SRL, acquires 100% of the share capital of IT wholesaler Smart Distribution SRL. The consolidated turnover of both companies, which exceeds USD125 million, will place ELKO among the top three IT wholesalers in Romania. The acquisition will be completed in upcoming months. The transaction has already been approved by Romania’s Competition Council”.
Svens Dinsdorfs, CEO of ELKO Group, said the consolidation of position in the region of Central and Eastern Europe was one of the group’s strategic moves. Dinsdorfs also said the Romanian market had a good growth potential and the Romanian division had undergone a process of reorganization and implementation of a new strategy.
“IT Smart Distribution is a strong company, with a good reputation on the market. There are many things we can learn from each other (…). I warmly welcome IT Smart joining the ELKO family and I eagerly expect to jointly reach new heights, especially in the field of IT solutions”, said Carmen Stanciu, General Manager of ELKO Romania and IT Smart Distribution.
“Both companies will start the integration, in terms of organization – unified portfolio, exchange of know-how and team mentality. The first steps consist in synchronizing the terms and conditions of cooperation and ensuring the availability of the complete portfolio of products for clients. The main focus during the integration process is to make it as easy as possible for both producers and clients, ensuring the fulfilment of their business objectives at full potential”, the company said.
IT SMART Distribution was established in 2012.