The transaction was signed in May 2023 and is expected to close in mid-2023, subject to the usual regulatory approvals.
bpv Grigorescu Stefanica team provided legal assistance throughout the negotiations leading to the signing, including on legal and tax aspects of structuring and implementing the deal. The team also coordinated the legal assistance of the sellers’ and Softelligence’s international advisers in the UK and other relevant jurisdictions.
The consulting team of bpv Grigorescu Stefanica included: Catalin Grigorescu (Corporate, M&A, Technology), Iulia Dragomir (Corporate, M&A, Tax), Ioana Gheorghe (Corporate, M&A) as well as other professionals from the firm’s corporate, commercial, employment and tax practices.
“The dynamic of the M&A market in this area shows that the IT sector is a mature and continuously growing sector,” said Catalin Grigorescu, partner at bpv Grigorescu Stefanica.
Softelligence is a Romanian company founded in 2006, which is present in Romania, the UK, and Macedonia, providing a full range of software engineering services and digital solutions for banking, insurance, and other industries. The acquisition of Softelligence marks Encora Group’s official entry into the European IT services market.
(English version by Loredana Fratila-Cristescu)