Softbinator Technologies acquires [e-spres-oh] and consolidates its presence in the western part of Romania
Softbinator Technologies (BVB: CODE), a Romanian software development company specialized in the design, development, and launch of innovative products with local and international clients announces the start of the procedures for taking over [e-spres -oh], an IT company from Timisoara. Following the transaction, Softbinator Technologies will consolidate its presence in Romania’s western part and expand its portfolio with new clients, mainly from the United States of America.
“[e-spres-oh] is one of the most renowned local design and technology brands in Timisoara. We are excited about the opportunity of this transaction, as we will expand regionally and increase the power of Softbinator delivery services for international clients. Beyond the extensive knowledge in software development, the fact that our new colleagues are already present in the US market is a significant advantage in our plans to consolidate the group’s position in the US market. Over time, Softbinator has intensified its efforts to be present on the West Coast in Silicon Valley. Together with [e-express-oh], we are beginning to provide services on the East Coast, especially in New York and Washington, D.C.. Our extremely close organizational culture allows us to continue the multi-brand strategy of expanding what we already call the Softbinator Group. Discussions with the company’s shareholders began in November 2021, and we have built step-by-step plans to turn [e-spres-oh] into an even stronger company after this acquisition. Also, after [e-espres-oh] will be integrated into the group, we will pursue the further development of the team in that region of the country, both through organic growth and through the acquisition of other companies from the same area,” stated Daniel Ilinca, founder and CEO of Softbinator Technologies.
[e-spres-oh] is a company founded in 2012 in Timisoara, specialized in software development, consulting, testing, and UI/UX. In 2019, [e-spres-oh] was sold to Alpine Group, a US investment group. In November 2021, the current shareholders of [e-spres-oh], Daniel Markovits, Horia Radu, Bogdan Dîngă, and Marcel Bărbulescu, took over the company from the American investment group.
“[e-spres-oh] celebrated a decade of activity this year due to the opportunities and challenges we have faced over the years. Together with Softbinator, we will be able to use our experience in developing software products in projects with a much greater impact on our team and clients. We want to grow by staying true to our values, which make [e-spres-oh] an innovative company and a unique employer,” stated Daniel Markovits, CEO of [e-spres-oh].
Following this transaction, Softbinator Technologies will take over [e-spres-oh] and its team of over 40 employees and collaborators. At the management level, Daniel Markovits will continue to serve as CEO. He will be responsible for the company’s business strategy and for meeting the group’s medium and long-term objectives.
In 2021, [e-spres-oh] recorded a turnover of 7.6 million lei. In 2022, the company targets revenues of approximately 11 million lei.
To carry out this transaction, Softbinator Technologies will use part of the capital raised from BVB investors during the private placement for its shares, which took place in September 2021. This is the company’s third transaction with funds raised from the capital market after taking over WiseUp at the end of 2021 and Digital Tailors in May 2022. Softbinator currently holds stakes in the recruitment company TechMind (25%), Product Design Agency Ixperi (75%), and Yummdiet (9,5%), a smart platform that includes recommendations for healthy nutrition and well-being.
Softbinator Technologies is listed on the AeRO market of the Bucharest Stock Exchange as of December 17, 2021, and is traded under the symbol CODE. The company has a market capitalization of approximately 70 million lei.
About Softbinator Technologies
Softbinator Technologies, a Romanian company with an accelerated growth in recent years (doubling the numbers between 2017-2020), provides software development services using cutting-edge technologies with a strong focus on Blockchain, Artificial Intelligence and DevOps. The company’s services and products are used globally by startups, SMEs, unicorns, and Fortune 500 customers, along with versatile Agile teams. The profile of the organization is oriented towards product development, which is appreciated for its ability to deliver results quickly. Currently, Softbinator Technologies has a team of over 100 programmers and collaborators in Bucharest and Constanța.