“We’re planning an exit. We’re discussing [it]. We may see [a deal] sometime this year,” Ghenea said.
The exit is not being discussed with local rivals and thus leading to a consolidation of the market, but with foreign investors, he added.
“The investors are foreign and strategic. In a way, it’s only natural that they would be, since this ultimately is a globalizing market and Romania is becoming more and more interesting for international companies,” Ghenea said.
“They’ve been rather reluctant to approach the offline area because of the major networks in Romania, Altex, Domo and Flanco, which had seized the entire market. Online, we’ve obviously got eMag, the undisputed market leader. Of course, there must be a number two and a number three as with any business, there must be competition. That is where the right investor will be.”
Ghenea, who, besides his own businesses, is also an investor in other companies and a consultant with the 3TS private equity firm, said the firm was looking at new potential deals on the local market. We are looking at companies that can use an investment to grow, he added.
“We are investing in Timisoara because it is an important hub in Romania’s IT industry. The country has the potential, technology-wise, to develop IT businesses. Many companies in Romania have chosen outsourcing and traditional IT services for many years now, instead of developing original products.”
The companies 3TS invested in include 123ContactForm, a Timisoara company that does online forms and polls, which are useful for companies starting websites and wanting to find out what users think of them.
(English version by Loredana Fratila-Cristescu)