Romania’s Bittnet sells Top Tech stake to investment fund Agista
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BUCHAREST (Romania), December 29 (SeeNews) – Bittnet Systems [BSE:BNET], the parent company of the Romanian IT group Bittnet, said that it has signed an agreement worth 3 million lei ($645,200/606,500 euro) to sell a 14% stake in IT company Top Tech to local investment fund Agista.
The transaction was carried out through another subsidiary of the group, Dendrio Solutions, which owned 60% of Top Tech prior to the deal, Bittnet Systems said in a report filed with the Bucharest Stock Exchange on Wednesday.
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Following the deal, Agista holds 56 shares, or 14% of Top Tech, Dendrio Solutions owns 184 shares, or 46% of the company and Bittnet Systems has 160 shares, or 40% of the company.
Top Tech is a company which integrates IT products and services with businesses in the Transylvania area. The company has offices in the cities of Deva, Sibiu, Timisoara, Cluj-Napoca, Alba-Iulia and Medias and employs some 80 people. Top Tech joined Bittnet in September 2022, when the group acquired 100% of its share capital.
Bittnet Systems was founded in 2007 in Bucharest by Mihai and Cristian Logofatu as a training and IT solutions company.
Its shares traded 0.88% lower at 0.2805 lei on the Bucharest Stock Exchange as at 1121 CET on Thursday.
(1 euro=4.9463 lei)