TotalSoft was established in 1994 by Liviu Dragan, the company’s general manager, who was left with a minority stake after Greek investment firm Global Finance had acquired a majority stake ten years ago. Dragan will remain the company’s Chief Financial Officer after TotalSoft’s takeover by Logo Software Investment.
Logo Software Investment S.A.- a unit of Logo Yazılım Sanayi ve Ticaret A.Ș. will acquire 100% of TotalSoft shares for EUR30 million and shareholders’ equity worth EUR30.25 million.
TotalSoft reported revenue of EUR21.3 million and an EBITDA (earnings before interest, tax, depreciation and amortization) of EUR3.48 million in 2015. In the first six months of 2016, TotalSoft had revenue of EUR10.65 million and an EBITDA of EUR1.97 million.
TotalSoft reported a turnover of RON94.8 million (EUR21.3 million) in 2015, down 5% on the year, according to data sent by the company to the Finance Ministry. Overall, TotalSoft reported revenue of EUR24 million, of which 40% was generated by international markets, according to data previously reported by the company. In 2015, the company’s net profit plunged 54% to RON2.9 million, compared with RON6.3 million in 2014. In 2015, TotalSoft registered an operating profit of RON18 million, according to data previously released by the company for Ziarul Financiar.
TotalSoft is one of the largest providers of ERP (Enterprise Resource Planning) solutions in Romania, with more than 1,500 clients in 36 countries, among which the United States, Germany, Austria, UK, Italy and France.