Romania's eMAG acquires minority stake in IT firm Zitec

Romanian online retailer eMag said on Friday it has invested 1.7 million euro ($1.8 million) in Romanian software company Zitec, acquiring a minority stake in the company, seenews.com informs. Zitec will use the capital infusion to increase its headcount, to expand into other cities in Romania and to create a department dedicated to European funds and grants, it said in a press release. Also, the company aims to grow its client portfolio in Western ...

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