Connections sells its Service Delivery division and continues investments in technology and cybersecurity

Connections, a technology company listed on the Bucharest Stock Exchange, AeRo market (symbol CC), announces the separation of its “Service Delivery” division and its transfer to Outsourcing Support Services S.R.L. (OSSR). As part of this process, OSSR, including its subsidiaries in Bulgaria and Serbia, will be fully sold in a €4.5 million transaction, subject to certain Closing conditions.

The division provides comprehensive Back Office Services, with a proven track record in serving global leaders across the FMCG, industrial, consulting, and logistics sectors. In recent years, it has accounted for approximately 20% of Connections’ revenue. The transaction will be pending the receipt of regulatory approvals and the fulfillment of certain Closing conditions.

This move is part of Connections’ strategy to optimize its portfolio and strengthen its market position by redirecting the capital generated towards the development of advanced technology and cybersecurity solutions – two strategic areas in which Connections aims to accelerate investments in the coming years.

The transaction, effective as of the Closing date – will transfer the division to IGT Solutions, a company headquartered in India with operations in 13 countries, including Europe and Romania (Bucharest). The deal ensures operational continuity and retains the existing team of over 140 employees. Under its new structure, the division will contribute to scaling operations and strengthening the company’s competitive advantage.

Bogdan Florea, Founder & Co-CEO of Connections: “This transaction marks a strategic step in Connections’ evolution, allowing us to focus on developing high-value solutions in key areas such as cybersecurity and artificial intelligence. The sale of Outsourcing Support Services S.R.L. (OSSR) provides us with additional resources for innovation investments, further strengthening our position as a trusted partner in the digital transformation of companies.”

“This acquisition marks a significant milestone in expanding our expertise in core back-office services, as OSSR’s capabilities and talented team are an excellent fit for us. We look forward to embarking on the next phase of growth and innovation.” said Katie Stein, CEO of IGT Solutions.

The decision comes at a time of market consolidation for Connections, following a landmark year in 2024, during which the company recorded, for the first time since its stock market listing in 2021, a gross profit margin of 10%.

ABOUT CONNECTIONS

Connections (ticker symbol CC) is a flagship company in Romania’s digital transformation market, with over 300 employees and 20 years of experience in some of the most digitally advanced technology markets in Central and Eastern Europe: Bulgaria, Serbia, sales offices in the USA and the UK, and representatives in Germany and the Middle East. The company specializes in Intelligent Automation, IT Infrastructure Support, Digital Business Process Management, and On-Demand Software Development.
In July 2018, Connections signed a partnership with UiPath, the fastest-growing Enterprise Robotic Process Automation (RPA) platform globally, alongside which it has already successfully implemented robotic automation processes in key industries. At the same time, Connections consistently invests in the development of software products for diverse industries, such as audit and consulting, green energy, and bots specialized in accounting and HR.

Connections’ clients include global corporations and mid-sized Romanian companies from industries such as Banking, FMCG, Energy, Telecom, and Retail, as well as government institutions in Romania.

Since September 2021, Connections has been listed on the AeRo market of the Bucharest Stock Exchange, in the Premium segment. More details about the company’s activities can be found at www.connectionsconsult.ro.

About IGT Solutions

IGT Solutions is a next-gen customer experience (CX) company. It enables personalized, meaningful, and effective interactions by innovative solutions with the power of Gen Al to deliver exceptional end-user experiences. With the ability to integrate human and digital intelligence seamlessly, it is a trusted partner for managing end-to-end CX journeys for global majors across industries.

Established in 1998, IGT Solutions has more than 90 global marquee customers and 25,000+ CX experts servicing client processes from 31 global delivery centers across 13 countries. IGT Solutions’ service offerings include Digital Transformation, Systems Integration, Platform Solutions, AI/ML and Gen AI-led industry and enterprise solutions, Intelligent Automation and Analytics, and a full spectrum of BPM services and solutions.
For more information, visit www.igtsolutions.com