The biggest surprise, however, is the value of the deal, as the US-held group will pay EUR240 milion in two phases: EUR160 million right away and EUR80 million if the Cluj-based company meets certain targets in the next two years, technology market sources told ZF.
The official announcement of the two parties did not disclose the value of the deal or its structure.
Fortech is a company that provides IT services to global clients, and the portfolio of clients, of multinationals, which signed long-term contracts is actually its main asset.
GlobalLogic considered several companies in Romania and eventually went ahead and bought Fortech.
The value of the deal is really high for the Romanian market and is a surprise.
(English version by Loredana Fratila-Cristescu)