The transaction was carried out with advisory services provided by law firm Filip & Company.
Evergent Investments did not mention in its stock market report the package of shares acquired and the value of the transaction.
“The future of advanced technologies is unlimited, starting from solving social and environmental challenges we face today at the global level to the acceleration of discoveries in all fields. We are investing in companies that can transform, that raise standards or challenge the status quo. We believe that, through our investment in the IT sector as part of the EVERGENT Investments strategy, we open new opportunities for our shareholders. MWARE Solutions is a high-performing, sustainable and scalable business”, states Claudiu Doros, President and CEO of Evergent Investments.
MWARE Solutions differentiates itself from local and even international players in the IT deep tech sector through its technological platform that provides the ability to analyse unstructured data within organizations using a semantic pattern of data understanding based on neural networks, with native deep-learning and machine learning capabilities to discover new perspectives in decision-making, customer understanding, new indicators and possibilities for automating organizational processes based on artificial intelligence.
According to data on Confidas.ro, MWARE Solutions had a turnover of EUR1.1 million in 2021, down 0.5% on the year, and a net profit of EUR298,400, up 68.9% on the year. MWARE Solutions is fully owned by Simpleminds Capital SRL, a company 52.17% held by Flavius-Liviu Burca and 47.83% by Ovidiu Oancea.
“The EVERGENT investment will facilitate the expansion of the MWARE Solutions team, access to large-scale projects, international expansion and the implementation of a corporate governance that will support its next stages of growth,” according to Evergent Investments.
The IT sector is one of major importance in the Romanian economy, with a contribution of about 6.2% to the gross domestic product (GDP), which amounts to EUR13.6 billion. The expectations of this sector are of double-digit growth rates in the coming years, being additionally supported by the PNRR through the C7 component – Digital transformation, with a budget allocation of EUR1.88 billion, the company also said.
Evergent Investments shares have lost 1.2% since the beginning of 2022, amid deals worth over RON200 million, stock market data show.
Evergent Investments has a market value of RON1.15 billion.