“With a financing of EUR10 million, Televoice Grup could better acieve the potential of the market segments it operates, which would raise turnover to EUR20 million and allow the company to tap other markets in the Balkan area, where local brands have not been developed due to the lack of a critical mass of consumers,” Nistoran told MEDIAFAX.
He said there have been talks with several prospective investors over the years, but plans have not materialized, as he did not wish to become a minority holder in his company.
“Televoice Grup’s financing needs to market potential has become stringent and bank loans entail a difficult process, our biggest goal for 2015 is to attract one or several new investors. Also, for the future, we are considering listing the company on the stock exchange when its turnover reaches a certain level,” said Nistoran.
Founded in 2002, Televoice Grup launched its Evolio branded IT&C products in 2007. The company sells GPS devices, netbooks, fixed and mobile communication products, multimedia products and accessories.
The company is owned by Nistoran, a former president of the Romanian telecom regulatory authority.
In the first nine months of the year, Televoice Grup group posted a turnover of EUR4.7 million and the company expects to hit EUR7.5 million by the end of the year, from EUR5.5 million in 2013.
“Estimates for next year show revenues will exceed EUR10 million, half of which will come from smartphone sales,” said Nistoran.