The deal value stands at $600,000 in cash and company stock. The price is to be paid in two tranches in 2023-3024.
In the wake of the deal, Softbinator Technologies will integrate 40 new employees and collaborators in its team, coordinated by Daniel Markovits, the current CEO of Espreoh.
The Timisoara company is specialized in software development, consulting services, testing and UI/UX.
Romanian software development company Softbinator Technologies (CODE.RO) has leased a permanent space in the U.S., in Silicon Valley, which will serve as its office on the American market.
The company will focus on setting up a limited liability company (LLC) in the US in the coming period.
Softbinator Technologies is listed on the AeRO market of the Bucharest Stock Exchange, trading under the CODE ticker.
The company has a market capitalization of above RON70 million and in 2021 reported consolidated turnover worth RON19.1 million, up 55.3% on the year, and net profit of RON3.3 million, up 27%.
(English version by Catalina Apostoiu)