AROBS Transilvania Software, the largest technology company listed on the Bucharest Stock Exchange, announces the complete takeover of the Future WorkForce Global (FWF) group from Cluj-Napoca, specialized in providing complex business process automation solutions. In addition to Romania, where it has offices in Cluj-Napoca and Bucharest, the group has subsidiaries in London, UK, and Munich, Germany.
“The acquisition of the Future WorkForce Global Group represents an important extension of our software services portfolio and consolidation of our position in the intelligent automation market through Robotic Process Automation (RPA), Artificial Intelligence (AI), and Machine Learning (ML). Intelligent automation is becoming increasingly important in today’s business landscape as organizations seek to simplify operations and reduce costs, all while increasing the efficiency of their teams. FWF develops intelligent automation solutions that use the latest RPA (UiPath, Microsoft, Celonis, Outsystems ), AI, and ML technologies to automate repetitive and time-consuming tasks, allowing organizations to focus on added-value activities. The transaction announced today is part of our strategy assumed at the listing on the BVB: the development of new areas of expertise for software services and acquisitions by integrating existing players operating in complementary industries, which allows synergies and easy integration. Also, with the takeover of FWF, we continue our expansion into international markets, especially in the UK and Germany, and complement our business process automation expertise through CoSo Netherlands and Belgium, where we are present under the FastPath Automation brand. The Future WorkForce Group has an outstanding team of experts and valuable partnerships with some of the world’s leading technology companies. We welcome approximately 100 new colleagues to the AROBS family and are thrilled to work together to provide innovative intelligent automation services and solutions to our client’s businesses,” stated Voicu Oprean, founder and CEO of AROBS.
Future WorkForce Global Group has approximately 100 specialists in optimizing and automating business processes using innovative technologies and solutions, such as Robotic Process Automation, Artificial Intelligence, and Machine Learning, located in Romania, UK, and Germany. The company started its activity in 2017, and today it has partnerships with some of the most important technology companies in the world – UiPath, Microsoft, Celonis, and Outsystems. Its clients include companies from banking, insurance, retail, logistics, and many more. FWF has an excellent reputation in the local and international markets, with its team being recognized for the customized approach and innovative solutions it provides to clients. In 2022, the FWF group recorded a turnover of approximately 22 million lei.
The company’s management will continue to be ensured by Mihai Balaj and Marius Bene as co-CEOs, Daniel Muresan as CTO, and Voicu Oprean as Chairman of the Board of Directors. AROBS will include the FWF financial results in the consolidated financial statements as of May 2023.
Mihai Balaj, Co-CEO of FWF Global, said: “I am proud to have been a part of the growth and success of Future WorkForce. Over the past five years, our company has become a leader in the digital transformation services industry in Romania and beyond, helping companies worldwide streamline and optimize their operations through technology. We have built a talented team of engineers, data scientists, and business experts passionate about using cutting-edge automation tools to solve complex business challenges. We believe technology enhances human potential and enables superior efficiency and productivity. This acquisition will expand our capabilities further and support our customer base expansion by creating further synergies, including the one with the already-established digital transformation brand FastPath Automation in Benelux.”
“We are delighted to join forces with AROBS, a company with which we share consideration for continuous innovation and excellence in software services. Together, we will generate significant added value for our customers and push the boundaries of what is possible in technology and business through digital transformation. We will be driven by the potential to transform how organizations operate and achieve their goals, globally,” stated Marius Bene, co-CEO of Future WorkForce.
Daniel Muresan, CTO of FWF, said, “I am excited to build synergies alongside AROBS’ deep knowledge of technology and business. We now have the leverage to accelerate our growth as a team and company.”
Before this transaction, AROBS and FWF had been collaborating since 2020 in a partnership through which FWF was supported with establishing a delivery center in Breda, the Netherlands. Since the closing of the private placement in October 2021, AROBS has acquired Berg Software, AROBS Engineering (former business line Enea Software Development Services Romania), Nordlogic group, Centrul de Soft GPS Romania, two entities from the Republic of Moldova, AROBS Software and AROBS TrackGPS, as well as SYDERAL Polska from Poland.
Regarding the M&A strategy, AROBS continues this year the acquisition process and the integration of existing players operating in the same industry who can bring added value by consolidating and expanding the areas of expertise and the geographical footprint to be covered by the group’s services and products.
On behalf of AROBS, the transaction was facilitated by the law firm Radu Tărăcilă Pădurari Retevoescu (RTPR) and TS Partners ESPAND, while the Future WorkForce group was assisted by the lawyer Horatiu Crisan.
AROBS Transilvania Software is listed on the AeRO market of the Bucharest Stock Exchange as of December 6, 2021. Currently, the company has a market capitalization of approximately 900 million lei.