BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company” / “the Issuer”) informs the investors and interested parties about the entry into the shareholding of Dendrio Solutions SRL of the investment fund Agista Investments. The operation was carried out by selling 69,956 Dendrio shares, representing 11,999% of the share capital and voting rights, for a total amount of RON 7,499,982.76. Considering the transaction price, the initial market valuation of the IT&C integrator Dendrio Solutions amounts to RON 62.5 million.
With the joining of Agista in the shareholding, Dendrio starts the journey to become a public company through the capital market mechanisms, either through a private placement or an initial public offering at Bucharest Stock Exchange , or through a merger procedure with a company listed on a regulated market or on an alternative trading system from an European Union state.
Dendrio Solutions SRL is the only multicloud integrator in Romania, a certified partner at the highest level by major technology vendors, including Cisco, Microsoft, Google, Amazon Web Services. The company is part of the Infrastructure and Cloud pillar in the Technology Division of Bittnet Group and in 2021 achieved a turnover of RON 87 million and an operating profit of RON 5.41 million. Dendrio brings together IT&C integration activities from Bittnet, Gecad Net and Crescendo International.
The latest M&A projects announced by the Issuer, the acquisition of TopTech and 2net Computers, will be operationally integrated in Dendrio Solutions, after receiving the approval from the Competition Council.