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Romsys and ITCN achieved the greatest transactions in IT

Athe sale of Romsys by Marius Cojanu is the greatest transaction on the Romanian IT market, followed by the sale of ITC Networks. Their total value exceeds USD 100 million, according to Money Channel TV.

The Austrian group New Frontier Holding paid USD 54 M (EUR 39.45 M) at the end of 2007 for the system-integrating company Romsys, at a moment the closing of the contract was negotiated, sources close to the transaction declared.

The negotiations for the integration of the system integrator that reported a turnover of EUR 24.3 M for 2007 and a net profit of EUR 4.1 M lasted for less than six months. The second position in the chart of the market's greatest acquisitions was reached by ITC Networks.

The software developing company in outsourcing system for telecommunications was purchased in 95 per cent by the Russian group Luxoft, for approximately USD 50 M, sources in the IT market declared.

According to company representatives, ITC Networks reached a turnover of USD 25 M (EUR 18.3 M) for the previous year, and the rate of operational profit reached 20 per cent.

As for the evaluation method applied to companies involved in this year's great transactions - Romsys, ITC Networks, Latona, IIRUC Service, IP Devel - Ioana Filipescu, Managing Director for Raiffeisen Investment Romania declared that, usually, the earnings before interest, taxes, depreciation and amortization (EBITDA) is the index to show the best ground for comparison, thus ignoring the tax differences of various markets and diminishing the differences produced by different development stages. Yet, analysts frequently study other indexes, such as the turnover.

 

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Tags: greatest romsys

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