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ANALYSIS: M&A market had 110 transactions in Romania in 2019
Wednesday, January 8, 2020
The mergers and acquisitions (M&A) market has witnessed 110 transactions in Romania in 2019, the highest level in a decade. In 2018, the number of deals was 98 and in 2017, 106. According to Deloitte estimations, the total volume, including transactions whose values were not disclosed, was EUR 4–4.4 billion in 2019 (EUR 3.8-4.3 billion in 2018), while the disclosed transactions amounted to EUR 1.7 billion (EUR 1.9 billion in ...
Zentiva group announces merger with AI Sirona Bidco
Wednesday, January 8, 2020
Zentiva, one of the main local pharma producers announced that it was informed on Monday by the majority shareholder Zentiva Group about the merger between the company Zentiva group and the company AI Sirona Bidco, this being the single shareholder of the company Zentiva group. ‘This merger produces effects starting with 31st December 2019. Following the merger, the company Zentiva Group A.S. stopped existing, the whole patrimony being ...
TypingDNA rised a USD 7 million Series A round led by Google’s AI-focused venture fund
Wednesday, January 8, 2020
Behavioral-biometrics company TypingDNA, a Romanian start-up has announced on January 4 that it raised a USD 7 million Series A round led by Gradient Ventures, Google’s AI-focused venture fund. Other participants include EU-based fund GapMinder, Techstars Ventures, among others, businesswire.com reported. TypingDNA, set up by Romanian Raul Popa and Cristian Tamas in Oradea four years ago, has developed proprietary artificial ...
EY analysis: 20% increase in the number of start-ups set up in Romania in 2019
Wednesday, January 8, 2020
After years of constant growth, 2019 set a new milestone in the development of the Romanian Tech startups ecosystem. It is growing up and attracting investor’s interest, reads a EY survey.Funding of Romanian startups became more sustainable and diversified. The pipeline of the local and international ventures is no longer driven by a few small-sized companies in e-commerce and marketplaces, rather it shows a balanced mix of innovative ideas in FinTech, Biometrics, ...
Connections ends the year with a turnover of USD 7 million
Wednesday, January 8, 2020
Connections, a leader in the digital transformation market in Romania, estimates for the end of 2019 a turnover of approximately USD 7 million, up 25% from the previous year. “For us, 2019 was a construction year, we focused on investments. The key points were achieved: strengthening the intelligent automation division, the expansion plan on international markets (Middle East, Southeast Asia), strengthening partnerships with technology providers ...
Nova Tech Integrated Solutions becomes MetaMinds
Wednesday, January 8, 2020
Nova Tech Integrated Solutions, a team formed over 10 years of excelling in integrating IT Solutions, will become MetaMinds. With a varied portfolio, cutting-edge technology, international awards for innovation in IT architecture, and a team of experts formed over the past 10 years, the company’s goal is to expand organically and to evolve constantly, assuming a strategy of social responsibility and active involvement in changing our society through ...
Druid valued at EUR 8 mln after financing round
Wednesday, January 8, 2020
Venture capital fund Early Game Ventures (EGV) participated in a new investment round carried out by Romanian startup Druid, which develops chatbots using Artificial Intelligence (AI). The startup founded and led by Romanian entrepreneur Liviu Dragan was valued at over EUR 8 million. The company will use the funds to expand rapidly in the US. It plans another investment round next year, aiming to raise EUR 8-10 mln from the ...
Autonom invests 2 mln euro in Impact Hub Bucharest
Wednesday, January 8, 2020
Co-working space operator Impact Hub Bucharest said on Wednesday it has received a 2 million euro ($2.23 million) equity investment from Romanian short-term mobility services provider Autonom. Following the investment, Autonom became a minority shareholder in the company, Impact Hub Bucharest said in a press release. Its founders Oana and Vlad Craioveanu will remain majority ...
Study PwC: the most loyal employees are those in the Millenials generation
Wednesday, December 18, 2019
The average period spent by employees in a company is four years and the most loyal are the employees of the generation Y or Millenials ( born between 1977 and 1994)who represent the majority of the employees ( over 60%) in the companies analysed in a PwC study.The rate of leaving out of the initiative of the employees was 18.7% this year, up by 5.1% against 2107, and approximately a third (32.3%) of the people who left on their own initiative had been hired for ...
AFI Europe and NEPI Rockcastle sign the acquisition of NEPI’s office portfolio in Romania
Wednesday, December 18, 2019
AFI Europe N.V. and NEPI Rockcastle have announced today the conclusion of the transaction for the acquisition of NEPI Rockcastle’s office portfolio in Romania, with a total GLA of 118,500 square meters. The transaction value is in excess of EUR 300 million. The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and ...
Scala Boutique hotel in downtown Bucharest up for sale
Wednesday, December 18, 2019
Scala boutique hotel, in downtown Bucharest, is up for sale at Artmark Historical Estate with a starting price of EUR 2.15 ...
Govt. could spend EUR 157 mln to save state airline Tarom
Wednesday, December 18, 2019
Romania’s Government is ready to extend EUR 157 million to state airline Tarom, which has been struggling with financial and operational problems for many years, transport minister Lucian Bode said at B1 TV ...
Kärcher invests EUR 25 mln to build second plant in RO
Wednesday, December 18, 2019
German group Kärcher, which owns a vacuum cleaner factory in Curtea de Arges, southern Romania, announced plans to invest EUR 25 million in a second vacuum cleaner ...
One in ten Romanians are doing business one way or another
Wednesday, December 18, 2019
Over 1.8 million Romanians have done business in the first ten months of 2019 (some 10% of the country’s resident population), 63,000 more than in the same period last year, according to a study by Frames, quoted ...
Study: micro-enterprises are heavily-indebted
Wednesday, December 18, 2019
The level of indebtedness defined as total debt to total assets of the Romanian micro-enterprises reached 73%, according to a report by local financial services provider Instant Factoring. The most affected are the companies with a turnover of less than EUR 50,000, which have to deal with an indebtedness level of 81%. The indebtedness in the retail trade is 90%, while companies in the health sector and professional services are ...
Holdings turn to profit in Romania after specific legislation changed
Wednesday, December 18, 2019
The number of holdings and companies that do the management of subsidiaries registered in Romania (CAEN codes 642 and 701) increased by 11% in the last four years, from 429 in 2014 to 478 in 2018. Moreover, the cumulated profits of holding companies reached RON 343 million (EUR 72 mln) in 2018, compared to losses of RON 180 million (EUR 39 mln) in 2014, according to public data. A holding company holds a controlling ownership interest in other companies and manages them ...
ROBS Transilvania Software spends EUR 5 mln for takeovers
Wednesday, December 18, 2019
AROBS Transilvania Software, one of the largest Romanian-owned IT companies, based in Cluj-Napoca, has so far spent about EUR 5 million for seven acquisitions carried over the last two years both locally and abroad, the company’s founder and CEO Voicu ...
Automobile Dacia, Romania’s biggest company
Wednesday, December 18, 2019
RS Components has analysed 2019 market capitalisation data across hundreds of companies to reveal the biggest business in every country, with findings pointing that car maker Automobile Dacia is Romania’s biggest company. The United Kingdom’s most lucrative ...
FintechOS raises $14 million in Series A investment
Wednesday, December 18, 2019
FintechOS announced today that it has raised a 14 milion USD 14M Series A round to continue its hyper accelerated growth and further development of the platform, StartupCafe.ro reports. The financing has been led by the Digital East Fund of Earlybird Venture Capital and ...
BMW Group appoints former web division head as CEO in Romania
Wednesday, December 18, 2019
BMW Group has appointed Austrian Josef Reiter as CEO of its Romanian subsidiary BMW Group Romania, starting early December this year. He replaces Wolfgang Schulz, who will take on a new leadership position at the group’s headquarters in Germany. In the past five years, Reiter has led the global BMW Group Web division, with the responsibility of strategically shaping the company's ...