BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer” / “Group”) informs investors about the signing of the SPA for the sale of 50.2% of ITPrepared SRL (rebranded Optimizor). The transaction price amounts to RON 6.12 million and will be paid within 5 business days from the signing of the share purchase agreement.
Optimizor, a company focused on IT managed services for IT infrastructures, is part of the Bittnet group – in the Digital Infrastructure pillar – since August 2021 when Bittnet took over the majority stake from the two co-founders. The total purchase price amounted to RON 3.9 million and was paid in 3 installments. The last 2 tranches were adjusted according to Optimizor financial performance in FY2021 and 2022. In almost 4 years of belonging to Bittnet group, Optimizor went through an extensive rebranding process, perfecting its new visual and brand identity and increasing its business from RON 2.34 million (in 2020 – the year before joining the group), to over RON 9.77 million in 2024. Optimizor also distributed dividends to the parent company Bittnet Systems SA, from the profits made during this period, in the amount of RON 2.2 million. By selling the 50.2% stake in Optimizor, Bittnet achieves an IRR (internal rate of return) margin of approximately 40%.
The sale of the majority stake in Optimizor is in line with Bittnet group’s current strategy, announced since the beginning of last year, to make the portfolio holdings profitable and to simplify the group structure.