AROBS shareholders approve the takeover of the entities from the Republic of Moldova, AROBS Software and TrackGPS
AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces the complete takeover of the entities from the Republic of Moldova, AROBS Software SRL and AROBS TrackGPS SRL (TrackGPS by AROBS Moldova), owned by Voicu Oprean. The company’s shareholders approved the two transactions during the General Shareholders’ Meeting held on December 22, 2022. Voicu Oprean abstained from voting on the two items on the agenda related to the approval of the two transactions.
“The two transactions approved during the GSM fall within the parameters of previous acquisitions made by AROBS, in the M&A strategy of the AROBS group, and were mentioned in the listing memorandum. Therefore, integrating the two companies from the Republic of Moldova into the AROBS group represents a natural step in consolidating and developing its activities. AROBS Software is a company registering stable year-on-year growth. It mainly operates in software engineering for the automotive industry – electric and autonomous cars- and software development for the latest technologies – IoT and life sciences. On the other hand, TrackGPS by AROBS Moldova has a remarkable presence in the fleet management market in the Republic of Moldova, having solid partnerships with governmental clients and reputable companies. The inclusion of the two companies in the group’s structure and, implicitly, in the consolidated financial results will provide AROBS investors and shareholders a clearer perspective on our activity in the Moldovan market,” stated Voicu Oprean, founder and CEO of AROBS.
AROBS Software Moldova is a well-known company in the labor market in the Republic of Moldova due to its partnerships with universities and professional associations, involvement in education projects for students, and building the business ecosystem. The AROBS Software Moldova team consists of over 120 engineers and software developers. The value of the transaction is 2.96 million euros.
TrackGPS by AROBS Moldova has extensive experience in fleet management for companies in all industries, with an active client portfolio of about 450 companies, with approximately 5,000 monitored transport units and about 5,000 installed devices. By integrating the company into the group, the fleet management business line of AROBS focuses its unitary presence on the Central and Eastern European markets, where it is a top-five player in terms of telematics expertise. The value of the transaction is 0.51 million euros.
An ANEVAR-accredited evaluator established the two companies’ market values through valuation reports carried out for the first six months of 2022.
The company’s management will focus on signing and completing the two transactions in the following period. At the financial level, AROBS will include the two companies’ results in the consolidation as of the following year’s first quarter.
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 790 million lei.
About AROBS Transilvania Software
AROBS Transilvania Software provides software services and solutions in various industries, having approximately 70 partners of the Software Services business line located in Europe and America and more than 10.000 clients of the Software Products business lines from Europe and Asia. AROBS is present in 11 locations in Romania and eight abroad, and 950+ AROBS specialists and collaborators build solutions for the future in the Automotive, Embedded, Life Sciences, Travel, IoT, Fintech, and Enterprise sectors. AROBS is the largest technology company listed on the Bucharest Stock Exchange.