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Counsel Group Frankfurt names Alexandru Sganca as Country Manager of Romania

Wednesday, January 13, 2021

Counsel Group Frankfurt, a company with Romanian-German shareholders, specialized in providing services and software solutions, announces the appointment of Alexandru Sganca as Country Manager Romania.   Alexandru Sganca has over 12 years of experience in the software field, acquired within METRO SYSTEMS Romania, where he held several roles including Team Leader, Department Manager, Capability Manager, and his most recent ...

Romanian companies to allocate 14pct of IT budgets for cybersecurity in 2021

Wednesday, January 6, 2021

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Romanian companies are willing to increase their budget to improve cybersecurity and allocate 14pct of IT budgets for this, but it is insufficient, according to a study commissioned by Safetech Innovations, a Romanian cybersecurity company.Despite the significant increase in the number and sophistication of cybersecurity attacks, only four out of 10 companies are concerned about the possibility that they could be the target of an attack, while three out of 10 companies ...

Vista Bank acquires Crédit Agricole Romania

Wednesday, January 6, 2021

Vista Bank announces the agreement with Crédit Agricole Group for the acquisition of the shares (100%) in Crédit Agricole Romania. The acquisition is pending to the approval by the National Bank of Romania and the Romanian Competition Council and is expected to be finalized during the 1st  half of the year. Once the acquisition is completed, Vista Bank will have total assets of above €1.2 billion, loans of €750 million, deposits of €1.1 billion ...

Number of companies deregistered nationwide decreases by over 25% in first 11 months of 2020

Wednesday, January 6, 2021

The number of companies deregistered nationwide decreased by almost 25% in the first 11 months of 2020 compared to the same period last year, to 23,341 as compared to 31,217 deregistrations January to November 2019, shows the statistical data of the National Trade Register Office (ONRC).Most deregistrations were registered in Bucharest - 4,499 (by 17.66% fewer than in the first 11 months of 2019) and in the counties of Timis - 1,215 (-23.25%), Cluj - 1,154 (-22.39%) and ...

TeraPlast buys 70% of flexible packaging producer Somplast Nasaud

Wednesday, January 6, 2021

TeraPlast, the parent company of the TeraPlast Group, has acquired the majority shares of Somplast Nasaud company, the acquisition being part of the development strategy of the Group, alongside investments of over 32 million Euro, which are still to be implemented, according to a press release from the company."Ever since we sold the Steel Division we announced that, in order to raise the company's value, our objective is to grow both organically, as well as through mergers ...

Over 9,850 companies suspend operations January through November 2020

Wednesday, January 6, 2021

The number of firms that suspended their activity decreased by more than 23.29 pct between January and November 2020 compared to the same period in 2019, reaching 9,851, according to data published by the National Trade Registry Office (ONRC).By industry, the largest number of suspensions was registered in wholesale and retail trade, repair of motor vehicles and motorcycles, respectively 2,731 (-30.93 pct), in other service activities - 1,043 suspensions (-12.72 pct) and in ...

5,144 companies, authorised individuals go into insolvency January through November 2020

Wednesday, January 6, 2021

The number of companies and authorised individuals entered into insolvency decreased by 11.77 pct in the first 11 months of 2020, compared to the same period last year, with 5,144 insolvencies recorded, according to data published on the website of the National Trade Registry Office (ONRC).By activity fields, January through November the highest number of insolvencies was recorded in wholesale and retail trade; repair of motor vehicles and motorcycles respectively 1,526 ...

eMAG fined by EUR 6.7 M by the Competition Council

Wednesday, January 6, 2021

Dante International SA, owner and manager of eMAG Marketplace online platform has been fined by EUR 6.7 million by the Competition Council for “abuse of dominant position on the market of brokering services through online marketplace platforms”.   The Romanian competition authority has also imposed a series of collective measures to restore the normal competition environment and to prevent such actions, reads a Competition Council press ...

Alternus Energy buys another PV park in Romania

Wednesday, January 6, 2021

China's ReneSola Energy is selling its two photovoltaic parks in Romania, with a total capacity of 15.4 MW, to Alternus Energy, an investor from the United States. The buyer already operates locally solar energy projects totaling 6.1 MW. Alternus Energy is an American company that entered Romania by acquiring two solar parks with a total capacity of 6.1 MW, in 2016. It later expanded in Germany, Italy, and the Netherlands.   The ...

MedLife takes over six pharmacies in Bucharest hospitals

Wednesday, January 6, 2021

Romania's biggest private medical services provider, MedLife Medical System, has signed a contract for taking over CED Pharma, which owns six pharmacies located within or close to hospitals.   This is MedLife's second acquisition in the pharma segment, after Pharmachem, announced within two weeks. The transactions are pending approval by the Competition Council.   CED Pharma is part of a group of companies, which ...

Wipro takes over METRO Systems Romania after signing strategic digital and IT deal with METRO AG

Wednesday, January 6, 2021

Wipro Limited, a leading global information technology, consulting, and business process services company, today announced a significant strategic digital and IT partnership deal with METRO AG, the leading global wholesale company that is redefining the food service distribution industry.   As a part of this transaction, Wipro will take over the IT units of METRO AG — METRO-NOM GMBH in Germany and METRO Systems Romania S.R.L. Through this ...

General Manager of Microsoft Romania, appointed to lead Microsoft’s operations in the Czech Republic and Slovakia

Wednesday, January 6, 2021

Violeta Luca, General Manager of Microsoft Romania, has been appointed to lead Microsoft’s operations in the Czech Republic and Slovakia, starting with January 2021.   “It is an opportunity that makes me happy and honors at the same time, through which I aim to add value to the new capacity, to further develop and support digital transformation projects on a large scale. I strongly believe that technology is more than ever the solution to ...

Steel mill Liberty Galati completes EUR 13 mln investment

Wednesday, January 6, 2021

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Romanian integrated steel mill Liberty Galati, part of British group Liberty, has completed an investment project worth EUR 13.5 million for modernizing the air preheater at one of its blast furnaces. The project will improve the operating performance and reduce costs, the company announced in a press release.   The GFG Alliance, led by Indian billionaire Sanjeev Gupta, which owns the Galati plant, announced that it plans EUR 1 billion investments ...

Vifrana Vineyard gets RON 9.5m financing, plans to invest in technology, cosmetics

Wednesday, January 6, 2021

Vifrana, a Romanian producer of organic wine by cultivated area, wants to repay a bank loan worth 8.2 million lei, to invest in technology, but also to expand abroad and on new business segments after recently obtaining financing of 9.5 million lei through a private placement of shares.   The offer, which was attended by 83 investors, was made with the support of the brokerage company Goldring, “the intermediary of Romanian entrepreneurial ...

Tesla is preparing to open its office in Bucharest

Wednesday, December 23, 2020

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Electric car producer Tesla is close to opening its office in Bucharest as it announced several open positions on the company's official website.For the beginning, Tesla wants to hire five people, including a store manager, two service technicians, a service manager, and a sales consultant, according ...

Crikle raises EUR 0.5 mln on Romanian crowdfunding platform

Wednesday, December 23, 2020

Crikle, the first British startup listed on the Romanian crowdfunding platform Seedblink, has reached its EUR 0.5 million financing target in just a few days after launching the campaign. Crikle decided to increase the target to EUR 0.6 mln and officially close the campaign after reaching this sum.   Crikle has raised this round at a pre-money valuation of EUR 4.4 million.The company had already received ...

Redis Labs will open R&D center in Bucharest in partnership with local firm

Wednesday, December 23, 2020

US-based tech group Redis Labs, which develops database management system software, will open a research and development (R&D) center in Bucharest in partnership with Romanian firm Tellence.   Tellence will work in partnership with Redis Labs’ Research & Development leadership to build a significant cloud services R&D center in Romania staffed with developers who are experienced in full ...

SoftOne Romania takes over Greek software integrator Orosimo

Wednesday, December 23, 2020

Cloud ERP solutions provider SoftOne Romania, a member of the Olympia investment group owned by businessman Panos Germanos, has taken over Greek software integrator Orosimo Software.The acquisition is part of SoftOne Romania's development strategy to expand its network of national partners and its customer portfolio, which has already reached over 600 companies.   Orosimo Software is a developer of ERP, ...

UiPath, the most valuable startup ever born in Romania, files for IPO

Wednesday, December 23, 2020

UiPath, the leader of the robotic process automation (RPA) industry, has submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission (SEC) for a proposed public offering (IPO) of its Class A common stock. The company made the announcement on Thursday evening, December 17.   The number of shares of Class A common stock to be sold and the price range for ...

Frisbo expands its European operations across 5 new countries

Wednesday, December 23, 2020

Romanian startup Frisbo, the smart e-fulfillment solution with the widest European coverage, taking on warehousing, packing and delivery of online orders on behalf of online shops, is announcing that it’s expanding operations in 5 new countries: Moldova and Bulgaria – where it has already started serving e-stores – in addition to Spain, Italy and Belgium, where Frisbo is in the process of integrating partner warehouses. In 2021, the company plans to grow the ...

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