Qualitance signs purchase agreement with ALTEN Group

QUALITANCE, the international technology and innovation company founded in Romania, has signed an acquisition agreement with ALTEN, according to which the international technology and innovation consulting and services group, operating in 30 countries, has committed to acquire the company founded 15 years ago by Radu Constantinescu and Ioan Iacob. The transaction is expected to close by the end of the year under the condition that the requirements of the Romanian Competition Authority are entirely met.

QUALITANCE, which prides on a team of 220 tech experts, creates digital products and businesses for large organizations and startups, using experience design, rapid prototyping, behavioral psychology, product strategy and emerging technologies. Having built its own formula to accelerate and scale up the design and development of digital solutions, the company has rapidly expanded in international markets, acquiring solid proven experience in industries that prioritize digital transformation. QUALITANCE is present on 3 continents – Europe, North America, Australia and has worked with some of the largest companies in the world, such as News Corp, Virgin, IKEA, Johnson & Johnson. In the last four years, the team has leveraged across the Romanian market the experience gained in international partnerships, accelerating the digital transformation of banking services for BCR, Banca Transilvania and Raiffeisen Bank, but also in the field of insurance or utilities and energy, together with OMV Petrom.

ALTEN, a technology and innovation consultancy and services group founded in France in 1988, has an international team of over 45,000 employees, 90% of whom are engineers. The group, which develops digital transformation projects on multiple business verticals for top companies in aeronautics, defense, security, automotive, energy, financial, retail, telecommunications etc., had a consolidated turnover of 2.925 billion euros in 2021. ALTEN Group is also present in Romania through two entities – ALTEN SI-Techno Romania and ALTEN Delivery Center – with over 1.000 employees, obtaining distinctions for working conditions, programs and initiatives for their career developments.

“We are impressed by the value that QUALITANCE is bringing to the ALTEN group, strongly proven by their deep understanding of technology and of the end-to-end development of digital solutions, experiences and businesses, by the talent and agility of the team, as well as by their consistent success in local and international digital transformation projects. Sharing a common vision with regard to the impact and evolution of technology in business and society, we are all the more confident that together we will be able to help even more organizations across Central and Eastern Europe to design and implement their digital transformation strategies fast and in a sustainable manner,” states Axel Girardetti, Central & Eastern Europe Director, ALTEN Group.

“After 15 years of successive transformations and continuous growth, the next natural step in the evolution of QUALITANCE is to leverage the extended capacity of ALTEN Group so as to be able to serve with even more agility the digital transformation needs of organizations on an international scale. The opportunity to become part of ALTEN Group delights us as we are sharing not just complementary know-how and talent, but also the same business philosophy centered on the needs and success of organizations, their clients, and employees,” adds Radu Constantinescu, CEO and co-founder of QUALITANCE.

As a result of the transaction, ALTEN Group is expecting to reinforce its presence in Romania as well as to increase its capabilities in serving clients across Central and Eastern Europe. The acquisition of QUALITANCE by ALTEN Group is expected to close by the end of 2022, under the condition that all the transaction requirements are met. In the acquisition process, QUALITANCE shareholders are represented by Accendo and legally assisted by law firm RTPR.

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About QUALITANCE

QUALITANCE is an international tech and innovation company that builds digital products and businesses for global organizations. QUALITANCE leverages behavioral design and emerging technologies such as AI and Machine Learning to create innovative digital products and services and help large organizations step in the digitally hyper-scalable 21st-century economy.

With 15 years in the market, the company has built its presence across 3 continents – Europe, US & Australia – from Bucharest to San Francisco, New York and Sydney, and has worked with some of the world’s biggest companies – News Corp, Virgin, IKEA, Johnson & Johnson, or Ford – on digital transformation and innovation solutions.

QUALITANCE has been recognized by the Financial Times 1000, Inc.5000 Europe, Deloitte Technology Fast 50 Central Europe and Technology Fast 500 EMEA as one of the fastest-growing technology companies. In 2017, QUALITANCE was awarded Company of the Year by the Employers Association of the Software and Services Industry (ANIS). In 2018, the Bucharest Stock Exchange presented QUALITANCE with the Made in Romania Award for being one of the companies that will contribute to the growth of the national economy.