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Bittnet Systems plans merger with Gecad Net

IT&C solutions provider Bittnet Systems announced it plans to merge with Gecad Net with the goal to consolidate its position within multicloud area, according to representatives of Bittnet Systems.

2017-04-24 20:49:21

Also, as part of this consolidation project, Bittnet will expand with offices in Timisoara, Oradea, Iasi and Craiova, and looks for local partners in these cities, according to Mihai Logofatu, general director and co-founder of Bittnet Systems.

"The synergy will allow us to consolidate our position as the first multi-cloud company that can offer the market a strictly neutral solution as a response to need. We already have a common project in development where we try to migrate the infrastructure and the applications of a company. There are complementarities, common directions and values that we found, a good team," said Mihai Logofatu. The manager also stated that major part of the company's financial and time resources will be secured for this merger.

"We already proposed to the shareholders an approach that we already tested the last year- an integrated capitalization of profits from 2016 and issuing premiums from the previous increase, that will generate free shares of 1 to 1, distributed through the Central Deposit," said Cristian Logofatu.

In 2014, Bittnet has been recognized as part of the Technology Fast 500 Top in EMEA from Deloitte (position 333) and in the book of Romanian Entrepreneurs as a result of participation in the EY Entrepreneur of the Year Competition. Also in 2014, the company added 2 new vendors to the training portfolio. It became Amazon Web Services Authorized Training Partner, Oracle Education Reseller and Oracle Partner Network Silver Level. The company initiated the process of going public by listing the shares on AeRO Market in Romania. In March 2015, Bittnet raises additional 150.000 Euro capital by selling shares to Carpathia Capital S.A. with an intention to further increase selling capacities and to grow revenues, according to the company's official data.



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