Connections Consult SA, leader on the digital transformation market in Romania, listed on the AeRO market of the Bucharest Stock Exchange (BVB) under the symbol CC, announces the acquisition of 100% of the shares of Brusch Services SRL, specialized in IT consulting and software development in nearshoring regime (provision of services to markets close to Romania).
It is the first acquisition that Connections Consult SA is making this year, in the context in which the company has been recently listed on the AeRO market of the Bucharest Stock Exchange, a listing that marks a new stage of business development of the company.
Brusch Services SRL is active in three markets (Romania, Germany, Finland) and has achieved a turnover of approximately 1 million euros in 2020. Among the clients in the company’s portfolio are multinational companies from Banking & Financial services, Automotive, Retail, etc.
Offering consultancy on all levels of development of a software product, but having solid experience especially in implementations of Oracle, SAP and software development based on Java technology, Brusch Services SRL will become a highly qualified talent management platform in technology, within the Connections Consult S.A. group, and will be integrated into the software development vertical. The opportunities for access to foreign markets – especially to the German one – offered by Brusch Services SRL – will allow the group to expand its client portfolio outside Romania, in the financial services industry.
”The reasons why we decided to make this transaction are the strategy for strengthening and developing skills in technology, access to foreign markets and the need to create a talent management platform that gives us a significant advantage in the competition for attracting qualified human resources – probably the biggest challenge in our industry. We estimate that the acquisition of Brusch will bring an increase of at least 10% in the group’s turnover and 15% in the gross profit, following the consolidation of the financial statements, in 2022″, says Bogdan Florea, founder and CEO of Connections Consult SA.
Gustav Bruckner and Axel Schwartz, the former shareholders of Brusch Services SRL, left the company’s shareholding after a period of almost 7 years, selling their shares to Connections Consult.
”We are pleased to be able to transfer ownership and operation of the company to the Connections group and we are convinced that, through integration, Brusch Services will have new development opportunities. By building synergies with other companies in the group, Brusch Services will be able to become what the new shareholders want, namely a solid technology consulting center that will aggregate advanced skills. I am sure, knowing the management of Connections, that their strategic plans will be happily complemented with the new acquisition”, said Gustav Bruckner, an entrepreneur with over 35 years of experience in the IT industry.
One of Connections’ strategic directions is attracting talent, with the team of senior programmers developing complex projects and specific products. Connections Consult is one of the main partners of UiPath in Romania, with whom it has implemented automation processes in key industries.