M&A alert. Bittnet buys GECAD NET in expansion move

Ovidiu Posirca 22/09/2017 | 14:14

Romanian Bittnet, the provider of IT training and integration services, has taken over GECAD NET, which specializes in the sale and implementation of software applications, for an undisclosed sum.

Following the acquisition, Bittnet aims to double its turnover to EUR 10 million and expand its portfolio of clients.

“We think that the Romanian IT market has to go through a consolidation phase, something that is happening globally almost in every field,” said Cristian Logofatu, CFO Bittnet. He added that the company will focus on cloud and IT security going forward.

Bittnet has offices in Cluj, Brasov, Sibiu, Timisoara and Iasi, while GECAD NET has over 100 resellers across the country.

“The new team will be aligned to the objectives and development plan of Bittnet outlined during the listing and in the annual and semi-annual reports: the consolidation of our leading position and being the biggest multi-cloud integrator in Romania,” said Mihai Logofatu, CEO of Bittnet.

Bittnet was founded in 2007 and is listed on the AeRo market of the Bucharest Stock Exchange since April 2015. GECAD NET has been operating on the IT market for over 25 years and has over 12,000 clients.

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