Romanian software start-up Froala bought by US-based Idera

Anca Alexe 20/06/2018 | 08:32

Froala, a Romanian start-up that offers tools for web and mobile app developers created by Diana and Stefan Niculai in 2013, has been bought by US-based Idera, a provider of software solutions for the B2B industry, with annual revenues of about USD 120 million, according to Profit.ro.

Froala has its headquarters in Bucharest and has made its mark with the text editor WYSIWYG (What You See Is What You Get), which provides a simple interface for building apps and web pages.

The company’s clients include giants like Apple, IBM, Samsung, Amazon, Adobe, Panasonic, Orange, eBay, Intel, Discovery, Toyota and Reuters.

Froala has over 6,000 clients from 110 countries, with just three employees. Its turnover last year reached RON 3.3 million and it had a net profit of RON 2.5 million, compared to only RON 625,000 in 2016.

Idera has over 300 employees and is based in Houston, Texas, serving over 50,000 clients. Last year, the HGGC investment fund took over Idera’s majority share package, and the company was valued at approximately USD 1.1 billion.

 

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