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Bucharest
August 18, 2022
BUSINESSCOMPANIESECONOMY

Nordlogic joins AROBS Group

AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces the full acquisition of Nordlogic, a local group of companies specialized in the development of custom software products and platforms, with offices in Cluj-Napoca, Oradea, and Seattle, USA.

Following the completion of the transaction, AROBS will expand its Software Services division team by integrating more than 60 programmers, testers, and software development consultants. The AROBS Group will thus strengthen its presence in Transylvania and Western Romania as well as in North America.

We are delighted that a new Romanian entrepreneurial company, also founded in Cluj, has decided to join AROBS and contribute to our long-term goal of making the group the largest international player in the IT industry, with innovative products and services, based in Cluj. Andrei and Ovidiu are two exceptional entrepreneurs with whom we share the same vision of Nordlogic’s growth and development potential. I thank them for choosing to join forces with us and welcoming them and the Nordlogic team to the AROBS Group, and I am confident that together we will implement many successful projects. This transaction aligns with our development strategy for the coming years, based on intensive M&A activity. In a relatively short time, we have managed to complete three transactions, but we will continue to look for and identify new opportunities, i.e., companies that can diversify our business and that want to grow with us,” stated Voicu Oprean, founder and CEO of AROBS (photo).

To complete this transaction, AROBS will use part of the capital raised from BVB investors during the private placement for its shares, which took place in October 2021, as well as bank financing.

Nordlogic was founded in 2006 in Cluj-Napoca by two Romanian entrepreneurs, Andrei Olariu and Ovidiu Codreanu, former high school and university classmates. Throughout its 17 years of existence, Nordlogic has developed and deployed web and cloud applications as well as software based on the Microsoft family of technologies for local and international clients in Europe, the UK, Israel, and the US. Nordlogic’s clients operate in various industries, such as financial services, technology, manufacturing, media, healthcare, non-profit organizations, etc. In 2021, Nordlogic Group registered consolidated revenues of approximately 9.7 million lei. The company will continue to be managed by Andrei Olariu (CEO), Ovidiu Codreanu (COO), and Ciprian Sorlea (CTO).

We are happy to become part of the AROBS family, which is an essential step in Nordlogic’s evolution. We believe that the synergies that Nordlogic’s entry into the AROBS group will bring will help us grow at an accelerated pace. For us, AROBS was a natural partner when we were looking to grow through an M&A transaction, thanks to a long relationship both professionally, between the firms, and personally. Belonging to the AROBS group makes us stronger and more competitive, and the plan is to continue to deliver high-quality services and products while expanding our team of specialists, skills, and client portfolio,” stated Andrei Olariu, co-founder and CEO of Nordlogic.

On the AROBS side, the transaction was facilitated by Wolf Theiss, who provided legal assistance to the company. On the other side, Nordlogic was assisted by Orion XXI as an M&A advisor and ZVD Attorneys in the legal aspects of the transaction.

This is AROBS’ third transaction since the announcement of its listing on the Bucharest Stock Exchange, following the acquisition of Berg Software Timisoara at the end of 2021 and Enea Software Development Services in April 2022. At the same time, it is the company’s seventh transaction in the last four years.

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