Deloitte Romania alongside Deloitte Germany have advised iQuest in the sale of two thirds of its share capital to the international technology group Allgeier in the transaction closed throughout August 2018.
Deloitte was beside iQuest in all the stages of the transaction, with the primary focus on the initial phases in drafting a financial and tax factbook for iQuest, which was used in launching the process.
“It was a complex and challenging project, spanning over a period of several months, and involved a dedicated team of local specialists, as well as our colleagues from Deloitte Germany. Our practitioners are part of a multi-disciplinary practice that is responsive, flexible and has shared access to resources. Our experience with similar engagements and belonging to a multi-disciplinary practice helped us have an in-depth understanding of the key challenges related to the IT sector and define an efficient and smooth approach,” said Radu Dumitrescu, Partner Transactions Support, Deloitte Romania.
iQuest Group was founded 20 years ago by Romanian entrepreneur Cornelius Brody and has become one of the top 20 software companies in Romania, recording revenues of EUR 33 million in 2017 and employing more than 650 people.
iQuest’s activity is split between the divisions responsible with the supply of on-demand software, the integration of customer engagement and commerce solutions and the development of own software solutions.