Nordlogic joins AROBS Group
Cluj-Napoca, July 28, 2022 – AROBS Transilvania Software (BVB: AROBS), the largest IT company listed on the Bucharest Stock Exchange, announces the full acquisition of Nordlogic, a local group of companies specialized in developing custom software products and platforms, with offices in Cluj-Napoca, Oradea and Seattle, USA. After completing the transaction, AROBS will expand its Software Services division by integrating more than 60 programmers, testers, and software development consultants. AROBS Group will also strengthen its presence in Transylvania, western Romania, and North America.
“We are thrilled that a new Romanian entrepreneurial company, also based in Cluj, has decided to join AROBS and contribute to our long-term goal of turning the group into the largest Cluj-founded international player in the IT industry, with innovative services and products. Andrei and Ovidiu are two exceptional entrepreneurs with whom we share the same vision regarding the growth and development potential of Nordlogic. I thank them for joining forces with us, I welcome them and the Nordlogic team to the AROBS Group family, and I am confident that we will implement many successful projects together. This transaction aligns with our development strategy for the upcoming years, based on intensive M&A activity. In a relatively short time, we managed to complete three transactions, and we are still looking for new opportunities, meaning companies that can diversify our activity and wish to develop with us,” said Voicu Oprean, founder and CEO of AROBS.
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 college classmates. During its 17 years of existence, Nordlogic has developed and implemented web and cloud applications as well as software based on Microsoft technologies for local and international customers in Europe, Israel, and the USA. Nordlogic’s clients operate in diverse industries such as financial services, technology, manufacturing, media, healthcare, non-profit organizations, and many more. In 2021, the Nordlogic group recorded consolidated revenues of approximately 9.7 million lei. The management of the company will continue to be ensured by Andrei Olariu (CEO), Ovidiu Codreanu (COO), and Ciprian Sorlea (CTO).
“We are happy to become part of the AROBS team, and we think this is a crucial step in the evolution of Nordlogic. 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 considered the development through an M&A transaction, thanks to a long relationship both on a professional and personal level. Joining AROBS Group makes us stronger and more competitive. The plan is to continue to deliver high-quality services and products while expanding our team of specialists, skills, and client portfolio,” said Andrei Olariu, co-founder & CEO of Nordlogic.
On behalf of AROBS, the transaction was facilitated by Wolf Theiss, who provided legal assistance to the company. Nordlogic was assisted by Orion XXI as an M&A consultant and by ZVD Attorneys in the legal aspects of the transaction.
This is the third transaction carried out by AROBS since the listing announcement on the Bucharest Stock Exchange, after the acquisition of Berg Software Timișoara at the end of 2021 and Enea Software Development Services in April 2022. At the same time, it is the seventh transaction carried out by the company in the last four years.
About AROBS Transilvania Software
AROBS Transilvania Software provides software services and solutions in various industries, with about 70 partners of the Software Services business line located in Europe and America and more than 10.000 customers of the Software Products business lines from Europe and Asia. AROBS Group is present in 11 locations in Romania and 8 abroad, and 950+ AROBS specialists build the solutions of the future in the Automotive, Embedded, Clinical trials, Travel, IoT, Fintech, and Enterprise solutions. AROBS is the largest Romanian tech company listed on the Bucharest Stock Market.
Nordlogic is a group of companies founded in 2006 in Cluj-Napoca by two Romanian entrepreneurs, Andrei Olariu and Ovidiu Codreanu. Nordlogic’s team of over 60 programmers, testers, and consultants specialize in developing customized web and cloud software products and platforms for local and international clients in the EU, UK, Israel, and US markets.
More about Nordlogic: www.nordlogic.com