Smart ID Dynamics was backed in the acquisition by the Sarmis Capital private equity firm, established by several Romanian executives two years ago, which earlier this year bought the majority stake in it. The deal was completed in May, according to Smart ID Dynamics representatives.
“We are following the strategy agreed with the founders of Smart ID Dynamics to strengthen the company’s market position through organic growth and acquisitions. The acquisition of Spectrum by Smart ID Dynamics is based on a strong rationale, given the compatibility between the two companies (…),” said Cezar Scarlat, managing partner and co-founder of Sarmis Capital.
Smart ID Dynamics posted more than RON85 million revenue in 2021.
(English version by Loredana Fratila-Cristescu)