{"id":6795,"date":"2019-05-09T18:14:37","date_gmt":"2019-05-09T15:14:37","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=6795"},"modified":"2025-09-04T16:16:53","modified_gmt":"2025-09-04T13:16:53","slug":"history","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/bittnet-group\/history\/","title":{"rendered":"History"},"content":{"rendered":"<section class=\"l-section wpb_row height_small\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-12 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"jstime timeline_preloader\" style=\"opacity:0;width:35px;margin:auto;margin-top:30px;\"><img decoding=\"async\" style=\"box-shadow:none;\" alt=\"timeline_pre_loader\" src=\"https:\/\/investors.bittnet.ro\/wp-content\/plugins\/Ultimate_VC_Addons\/modules\/..\/assets\/img\/timeline_pre-loader.gif\" \/><\/div><div class=\"smile-icon-timeline-wrap jstime   tl-animation-slide-out\"    data-time_sep_color=&quot;#1a1a1a&quot; style=\"opacity:0; \"><div class=\"timeline-line \" style=\"border-right-color:#8dbe65;\"><span><\/span><\/div><div class=\"timeline-wrapper\"><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-8100\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-8100 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Founded in 2007<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-8100 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">By Cristian and Mihai Logof\u0103tu as an IT education company.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-4721\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-4721 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Joint-stock company (SA) - 2009<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-4721 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet transforms into a joint-stock company (SA) following the capital increase using profits generated in 2008.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1369\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1369 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Capital infusion from business angel - 2012<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1369 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Ra\u0306zvan Ca\u0306pa\u0306t\u0326\u00eena\u0306, in exchange for a 24% stake in Bittnet.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1479\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1479 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Bittnet Advisory Board - 2012<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1479 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Creation of the Bittnet Advisory Board, consisting of recognised investors and entrepreneurs<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-4306\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-4306 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Listing on AeRO - march 2015<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-4306 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Lists on AeRO, company attracts \u20ac150,000 in exchange for 10% from Polish fund Carpathia Capital.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9135\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9135 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">First bond issuance - july 2016<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9135 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Attracts \u20ac950,000 through first issuance of corporate bonds (BNET19) on AeRO.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1044\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1044 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Profit capitalization - august 2016<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1044 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Capitalizes profit of \u20ac200,000.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5781\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5781 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Capital increase - march 2017<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5781 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Raises \u20ac175,000 through AeRO in exchange for 7% stake in the company.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-8645\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-8645 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">First Takeover - april 2017<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-8645 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Announces takeover of GECAD NET.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1646\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1646 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Profit capitalization - july 2017<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1646 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Capitalizes profit of\u00a0 \u20ac320,000.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5876\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5876 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Second bond issuance - september 2017<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5876 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Attracts \u20ac1,000,000 through issuing corporate bonds (BNET22) \u2013 capital used to acquire GECAD NET.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5540\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5540 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">New takeovers - march 2018<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5540 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Announces purchasing of 51% stake in ELIAN Solutions and 25% stake in EQUATORIAL.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7134\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7134 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Rebranding - april 2018<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7134 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Rebrands GECAD NET to <b>Dendrio<\/b> \u2013 first multi-cloud integrator in Romania.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3809\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3809 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Third bond issuance - july 2018<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3809 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Attracts \u20ac1,000,000 through BNET23 bonds for M&amp;A in ELIAN and EQUATORIAL.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9916\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9916 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Significant transaction - october 2018<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9916 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Announces intention to acquire the IT&amp;C integration division of Crescendo International.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-4406\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-4406 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Crescendo M&amp;A bonds - december 2018 \/january 2019<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-4406 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Attracts \u20ac4,000,000 through bonds BNET23A and BNET23C.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5065\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5065 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET19 repayment - january 2019<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5065 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Callback and repayment of BNET19 bonds.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5162\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5162 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Historical milestone, market capitalization - may 2019<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5162 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet Group reaches historical milestone with market capitalization of over 100 million ron.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2575\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2575 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Audited financial results in IFRS format - november 2019<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2575 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Publishes audited financial results in IFRS format for 2016-2017-2018.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7209\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7209 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The most liquid company on the AeRO market - december 2019<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7209 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The most liquid company on the AeRO market (23% of total transactions), the 17th most liquid on the main market.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-4718\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-4718 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The transfer on the main market of the Bucharest Stock Exchange - january 2020<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-4718 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The SGM approves the transfer on the main market of the Bucharest Stock Exchange and elects the board of directors (Mihai Logofatu, Cristian Logofatu, Lucian Anghel).<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2255\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2255 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The capital increase operation - march \/april 2020<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2255 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Completes the capital increase operation, 9 million ron<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2748\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2748 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The first IT company listed on BVB - june 2020<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2748 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Starts trading on the regulated market of the Bucharest Stock Exchange &#8211; the first IT company listed on BVB.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3379\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3379 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET included in the BVB indices - october 2020<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3379 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">BNET shares are included in BVB indices: BET-XT, BET-XT-TR, BET-BK and BET-Plus.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7709\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7709 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET enters FTSE indices - february 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7709 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet shares are included in the FTSE Global Micro Cap and Total-Cap indices.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1558\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1558 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">New acquisitions - november \/december 2020<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1558 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Acquisition of 23% of The e-Learning Company shares and 25% of Softbinator Technologies.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7969\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7969 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The first cross-border M&amp;A - march 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7969 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet&#8217;s first cross-border M&amp;A: The Group announces its intention to acquire 35% of Servodata, an IT&amp;C solutions integrator in the Czech Republic. (M&amp;A project canceled at the moment)<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-8516\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-8516 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Repayment of the bond issuance - april 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-8516 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet Group announces the repayment of BNET22 bond issuance.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1428\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1428 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Signing of multiple M&amp;A transactions: ITPrepared, Nenos Software and Nonlinear - August 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1428 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Signing of investment agreements to take over majority stakes in the companies ITPrepared (rebranded: Optimizor &#8211; an IT managed services company), Nenos Software and Nonlinear (last two &#8211; software companies)<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2207\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2207 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Signing of M&amp;A transactions: ISEC Associates and Computer Learning Center - August 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2207 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Signing of investment contracts with the 2 companies that were part of the Provision group through which the majority stakes in ISEC (a cybersecurity company) and CLC (a IT training company<strong>)<\/strong> were taken over<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2869\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2869 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Autodesk business Sale - September 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2869 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Sale of the division\/business related to the Autodesk vendor for the amount of 450.000 euro by Dendrio<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3511\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3511 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Acquisition of Global Resolution Experts (rebranded: FORT) - December 2021<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3511 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Signing of the M&amp;A contract for the acquisition of the majority stake in the cybersecurity company FORT<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1186\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1186 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Signing of M&amp;A contracts with TopTech and 2Net Computer - March-April 2022<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1186 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Signing of acquisition contracts for the takeover of the two companies (with business in Transylvania) in the group&#8217;s Digital Infrastructure division<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3370\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3370 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Co-opting a strategic investor in Dendrio<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3370 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Sale of 12% of Dendrio Solutions to the investment fund Agista Investements for the amount of 7 million ron<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3438\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3438 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Signing of the M&amp;A contract with Dataware Consulting - December 2022<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3438 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">for the acquisition of 70% of the IT systems integrator \u2013 Dataware Consulting<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7588\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7588 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Receiving the Competition Council's approval - July-September 2022<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7588 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">For the full takeover of the two companies: TopTech and 2Net. Signing of the closing certificates with the sellers and of the investment loan that partially financed the two M&amp;As with Banca Transilvania<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9719\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9719 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Private placement of BNET26E bonds - December 2022<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9719 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">the first euro bonds issue carried out by Bittnet (2 million eur \u2013 BNET26E)<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-2955\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-2955 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Strategic investor co-optation in TopTech - December 2022<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-2955 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Sale of a 14% stake in TopTech to the investment fund Agista Investments for the amount of 3 million ron<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-8270\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-8270 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Repayment at maturity of BNET23C bonds - January 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-8270 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Bittnet reimbursed investors the amount of 10 million ron \u2013 the principal borrowed in January 2019<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-8724\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-8724 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Share capital increase - January-March 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-8724 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Conducting a public offering of new BNET shares and increasing the issuer&#8217;s capital by approx 30 million ron<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1545\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1545 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET26E bond listing - March 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1545 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Admission to trading of euro-denominated bonds BNET26E<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9981\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9981 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">The first IPO of corporate bonds - May 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9981 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The first Bittnet bond IPO through which the issuer raised a committed financing of 5 million ron through the BNET27A issue<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9418\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9418 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Repayment of the BNET23 bond issue - July 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9418 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Redemption of BNET23 bonds at maturity \u2013 repayment of the principal borrowed (4.7 million ron)<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7032\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7032 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Full acquisition of Dataware Consulting - December 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7032 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Signing the contract for taking over the 30% difference from the IT systems integrator Dataware<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9277\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9277 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">A new IPO of corporate bonds - December 2023<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9277 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Raising 10 million ron in financing from Bucharest Stock Exchange investors through the issuance of BNET28 bonds<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9619\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9619 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Reorganization of Bittnet group into 4 pillars\/business units<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9619 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">As a result of the multiple M&amp;A projects carried out between 2018-2023, the group&#8217;s management decided to organize the companies into 4 main divisions\/business units: Digital(Cloud) Infrastructure, IT Education, Cybersecurity and Platforms and software development.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7883\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7883 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Elections for a new Board of Directors - January 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7883 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The GSM to elect a new composition of the Board of Directors consisting of 5 members<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5372\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5372 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET28 bond listing - February 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5372 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Admission to trading on the BSE regulated market of BNET28 bonds, issued in December 2023<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7410\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7410 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">A new IPO of BNET28A bonds - April-May 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7410 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The third public offering of corporate bonds in Bittnet&#8217;s history \u2013 raising 6.6 million ron from investors and listing them on the BSE regulated market<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7626\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7626 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">FORT share start to trading on AeRo market - May 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7626 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Listing on the AeRO-SMT market for the cybersecurity pillar, after (December 2023) it carried out a private placement of new shares through which it raised the amount of 1.67 million ron in new capital<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1648\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1648 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">BNET share buyback program of own shares - August 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1648 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Approval and initiation of a share buyback program up to 10 million BNET shares<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7729\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7729 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Signing of an MoU for listing of Dendrio in Sweden - September 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7729 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Reaching an agreement in principle for the listing of the Digital Infrastructure pillar through a reverse-listing procedure on the Swedish capital market (part of Stuttgart Boerse Group)<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-7237\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-7237 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Consolidation of holdings in the Digital Infra pillar, around Dendrio - April-October 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-7237 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">As part of the restructuring and simplification processes and the group structure \u2013 the companies in the Digital pillar (Dataware and TopTech) were integrated and rebranded around Dendrio Solutions<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9383\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9383 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Rebranding of Digital Infrastructure pillar companies - November 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9383 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Dataware and TopTech companies have been rebranded under Dendrio, becoming Dendrio Innovations and Dendrio Technology respectively. Dendrio Solutions owns 100% of the two newly rebranded companies<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-3410\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-3410 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Merger of 2Net Computer into Dendrio Technology (formerly TopTech) - Aug Dec 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-3410 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Considering the profile of the two companies and the geography in which they carry out their activities (Transylvania region) , 2Net was merged by absorption into Dendrio Technology.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-6680\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-6680 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Company merger in the Education pillar - Aug-Dec.2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-6680 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">Given the similar profile of the companies in the IT education area, the management has made the decision that Equatorial Training and Computer Learning Center will be merged by absorption into Equatorial Gaming. Part of the procedures to simplify the Bittnet group structure<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-1526\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-1526 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Regarding in the Platforms and software pillar - November Dec 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-1526 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The company acquired in December 2023, Kepler Management Systems, was rebranded as Elian Development Systems and integrated under Elian Solutions.<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-9669\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-9669 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Cybersecurity Pillar Sale - FORT - December 2024<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-9669 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The first exit of a pillar\/company within Bittnet group was the sale at the end of 2024 of Fort SA in a transaction of 23.5 million ron<\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5510\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5510 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Eqatorial Gaming rebranding to Bittnet Training - January 2025<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5510 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\"><\/div><\/div> <!-- header --><\/div><\/div><div class=\"timeline-block \"><div class=\"timeline-dot\"><\/div><div class=\"ult-timeline-arrow\"><s><\/s><l><\/l><\/div><div class=\"timeline-icon-block\"><div class=\"ult-timeline-icon tl-icon-no-bg\" style=\"   \"><\/div> <!-- icon --><\/div><div class=\"timeline-header-block\" >\n\t\t\t\t\t\t\t<div id=\"timeline-item-5801\" class=\"timeline-header\" style=\"\"><h3 class=\"ult-timeline-title ult-responsive\"  data-ultimate-target='#timeline-item-5801 .ult-timeline-title'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:bold;\">Sale of Optimizer (ITPrepared) - May 2025<\/h3><div class=\"ult-responsive timeline-item-spt\"  data-ultimate-target='#timeline-item-5801 .timeline-item-spt'  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"\">The sale of the majority stake in the IT managed services company Optimizor (ITPrepared) brought an IRR of approx 40%. The transaction price amounted to 6.12 million ron.<\/div><\/div> <!-- header --><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Founded in 2007By Cristian and Mihai Logof\u0103tu as an IT education company. Joint-stock company (SA) - 2009Bittnet transforms into a joint-stock company (SA) following the capital increase using profits generated in 2008. Capital infusion from business angel - 2012Ra\u0306zvan Ca\u0306pa\u0306t\u0326\u00eena\u0306, in exchange for a 24% stake in Bittnet. Bittnet Advisory Board - 2012Creation of the...","protected":false},"author":13,"featured_media":0,"parent":1461,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6795","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>History - Bittnet Investor Relations - Bittnet Group - BNET<\/title>\n<meta name=\"description\" content=\"History - Bittnet Investor Relations - Bittnet Group - BNET. Founded in 2007. 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