Bittnet Systems to debut on AeRO on Wednesday

Newsroom 14/04/2015 | 15:29

Bittnet Systems is the first Romanian IT company to debut on the AeRO market this Wednesday. The company’s main activity focuses on IT trainings and delivering end-to-end IT infrastructure services and solutions from market leaders like Cisco, Microsoft, Dell, VMware, HP etc.

According to a press release, the Bucharest Stock Exchange (BVB) will be streaming live the event dedicated to Bittnet Systems debut on AeRO.

The Polish company INC is the Authorized Advisor that assisted Bittnet Systems in the process of coming to AeRO and will continue to assist it for the subsequent 12 months after listing.

Bittnet Systems was established in 2007 by Mihai and Cristian Logofatu, who gathered a small but enthusiastic technical team, all having training experience gained at Credis Cisco Networking Academy since 2000. After 7 years of delivering IT trainings to students and individuals, Mihai and Cristian Logofatu established Bittnet, the new project, aiming the Romanian B2B market. Since inception, the company decided to focus on delivering IT trainings and end-to-end networking solutions and services based on technologies from market leaders like Cisco. In 2012, Bittnet was named the Cisco Learning Partner of the Year for the second year in a row during the annual Partners event. Revenues amounted then up to a total of EUR 855,000.

In 2014, the company has strongly increased the IT services (consulting, audit and design), even exporting IT professionals to implement Datacenter projects in Germany. Over 2014, Bittnet has been recognized as part of the Technology Fast 500 Top in EMEA by Deloitte (position 333) and in the book of Romanian Entrepreneurs as a result of participation in the EY Entrepreneur of the Year Competition. The company added 2 new vendors to the training portfolio. It became Amazon Web Services Authorized Training Partner, Oracle Education Reseller and Oracle Partner Network Silver Level. The company initiated the process of going public by listing the shares on the AeRO market. Revenues totaled last year over EUR 1,8 million.

In March 2015, Bittnet raises additional EUR 150,000 capital by selling 10 percentof its shares to Carpathia Capital with an intention to further increase selling capacities and to grow revenues in the future.

On April 15 Bittnet Systems will rang the opening bell marking its debut on the AeRO market.

By launching AeRO, the Bucharest Stock Exchange triggered a mechanism that targets long-term development of the market and a more effective promotion and marketing, and thus managed to attract the interest of entrepreneurs and to convince them to pass on this new market. AeRO is a new opportunity for companies that want to use the capital market for their benefit as well for investors, especially by attracting capital to support projects and to prepare for a future transition to a new level of transparency, listing on the regulated market. AeRO is setting bridges between entrepreneurs and the individual investors, private equity environment and investment funds.

A company can become public if it has a predictable minimum value of EUR 250,000, the number of shares to be sold is at least 10 percent or the company has at least 30 shareholders.


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