BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company” / “Issuer” / “Group”) informs the investors about the entry into the shareholding structure of Top Tech SRL (“TT”) of the Agista Investments investment fund. The transaction was carried out through the sale by Dendrio Solutions SRL (subsidiary company of Bittnet) of a number of 56 shares, representing 14% of the share capital and voting rights of Top Tech for the amount of RON 3,000,000. With the addition of Agista as a strategic investor in Top Tech, the shareholding structure is as follows:
- Agista Investments owns 56 shares, representing 14% of TT
- Bittnet Systems owns 160 shares, representing 40% of TT
- Dendrio Solutions SRL owns 184 shares, representing 46% of TT
Top Tech SRL is an integrator of IT products and services with business in Transylvania area, which joined Bittnet Group in September 2022, when the Group made an investment in the acquisition of 100% of its shares.
Top Tech has concluded partnerships with the most important technology manufacturers, such as Dell or HP, for the delivery of IT equipment and services. The company has over 80 employees and collaborators, being one of the most important integrators in the central and western part of Romania. The company has offices in Deva, Sibiu, Timisoara, Cluj-Napoca, Alba-Iulia and Medias.
The TT portfolio includes solutions and implementation skills from technology manufacturers HP, DELL, CISCO, Kyocera, Toshiba, Xerox, Jabra, APC, or Lenovo.
In the first 9 months 2022, Top Tech achieved total revenue of RON 57 million. The financial results of TopTech were not consolidated in the financial results of Dendrio, or of the Group at the level of 3rd quarter 2022.