The acquisition will bring S&T “solutions complementary to what we already have and which will boost efficiency and complement the offers to our clients, a team of experts highly skilled and with a vast experience, a portfolio of new and very important clients”, S&T CEO Nicoleta Macovei told Ziarul Financiar. “The package of shares was 100% acquired, but the value of the deal is confidential”, Macovei added.
Law firm Rada & Asociatii assisted S&T in the deal.
Enterprise Concept had a turnover of over RON13 million and a net profit of over RON3 million in 2020. Enterprise Concept, leader in terms of process automation implemented in Romania, specialized in BPM and Digital Process Automation (DPA), which has so far managed to generate EUR30 million per year in direct and indirect ROI for the company’s clients.”
Enterprise Concept will be absorbed by S&T, Macovei also said, adding “Upon going through all legal procedures, the company will merge with S&T Romania. The company’s founders stay with the company. This is an essential prerequisite for the success of a merger and both parties want to achieve success on the long term.”
S&T Romania had a turnover of RON217.7 million in 2020, up 2% on the year, a net profit of RON0.9 million, and on average 183 employees. In 2020, S&T also acquired local IT&C solutions integrator Cronus eBusiness.