BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company” / “Issuer”) informs the Market about signing the SPA for purchasing 74% of the cyber security company Global Resolution Experts SRL (“GRX”).

GRX joins Bittnet Group in the Technology division, in the cybersecurity business, together with the activity in this field of Dendrio Solutions SRL and the company ISEC Associates (which joined Bittnet in September 2021) thus forming a strategic pole in the future business development of the Group.

The transaction price will be established after auditing the financial results for 2021 and will be paid in two installments. The first tranche, RON 5,150,400, will be unblocked and paid to the founding shareholders of GRX after fulfilling some suspensive conditions such as the transformation of GRX into a joint stock company, the adoption of the new articles of association of the company, the appointment of new directors – estimated December 2021.

GRX provides its clients with professional and personalized consulting services in the field of cyber security, design services for the IT architecture and infrastructure solutions for the integration of financial information systems in Public Cloud. Also the design for technical IT infrastructure solutions for the implementation information systems in public sector.

By joining GRX and ISEC Associates, the Bittnet Group will be able to provide customers with penetration testing services for Web applications and IT infrastructure, maintenance of IT management and information security systems for compliance with international standards, as well as control and design services and IT security systems (VPN, Antivirus/AntiX, DLP, NAC, IDS / IPS).