{"id":13553,"date":"2021-08-20T18:32:48","date_gmt":"2021-08-20T15:32:48","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?p=13553"},"modified":"2021-08-20T18:32:48","modified_gmt":"2021-08-20T15:32:48","slug":"signing-the-investment-agreement-with-isec-associates-and-computer-learning-center","status":"publish","type":"post","link":"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/","title":{"rendered":"Signing the investment agreement with ISEC Associates and Computer Learning Center"},"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=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>BITTNET SYSTEMS S.A. (hereinafter referred to as \u201cCompany\u201d \/ \u201cIssuer\u201d) informs the investors about signing the sale and purchase contracts for taking over a majority stake in the cybersecurity company &#8211; ISEC Associates SRL and the full takeover of the IT training company &#8211; Computer Learning Center SRL.<\/p>\n<p>The value of the transaction for purchase of 69.9920% of ISEC Associates is RON 295,000, the amount that will be paid in a single tranche to the founding shareholder, Alexandru Andriescu. Also, according to the agreement and subject to the approval of the shareholders, Bittnet will grant loans to ISEC or guarantees for accessing loans\/credits in the total amount of EUR 241,000 in the next two years, for the development of the company&#8217;s business.<\/p>\n<p>ISEC Associates is a company founded in 2003, specialized in complete security audit services, IT consulting and testing. ISEC helps companies identify, evaluate, secure and manage information security. By acquiring ISEC, Bittnet is developing its position in the cybersecurity market.<\/p>\n<p>The acquisition contract for 100% of Computer Learning Center (CLC) has a net value of RON 225,000 , payable within 3 working days from the signing of the agreement. During the transaction, the seller has the non-core assets of CLC which are evaluated at RON 500,000. Thus, Bittnet will owe an additional tranche of RON 500,000 once CLC collects from the seller the market value of the non-core assets and eliminates these assets from the company&#8217;s patrimony.<\/p>\n<p>Through the full acquisition of CLC, Bittnet Group is consolidating its Education Division and expanding its certification portfolio, especially in the cybersecurity sector. Computer Learning Center collaborates with over 30 certified trainers and has delivered over 2,500 courses to 15,000 participants in recent years. In addition, Bittnet intends to provide CLC with loans or guarantees for accessing loans\/credits worth EUR 420,000 over the next two years for the development and financing of the current activity.<br \/>\nThe two M&amp;A transactions will be subject to ratification by the Extraordinary General Meeting of Shareholders on September 7th, 2021.<\/p>\n<p><a href=\"https:\/\/investors.bittnet.ro\/wp-content\/uploads\/2021\/08\/CR52-current-report-engl-2021.pdf\">CR52\/20.08.2021<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"BITTNET SYSTEMS S.A. (hereinafter referred to as \u201cCompany\u201d \/ \u201cIssuer\u201d) informs the investors about signing the sale and purchase contracts for taking over a majority stake in the cybersecurity company &#8211; ISEC Associates SRL and the full takeover of the IT training company &#8211; Computer Learning Center SRL. The value of the transaction for purchase...","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[389],"tags":[],"class_list":["post-13553","post","type-post","status-publish","format-standard","hentry","category-current-reports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Signing the investment agreement with ISEC Associates and Computer Learning Center - Bittnet Investors Relations Site<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Signing the investment agreement with ISEC Associates and Computer Learning Center - Bittnet Investors Relations Site\" \/>\n<meta property=\"og:url\" content=\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Bittnet Investors Relations Site\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/BittnetSystems\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-20T15:32:48+00:00\" \/>\n<meta name=\"author\" content=\"Lucian Bratu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NA\" \/>\n<meta name=\"twitter:site\" content=\"@NA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lucian Bratu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\"},\"author\":{\"name\":\"Lucian Bratu\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#\/schema\/person\/54d368673105e588c70afb8404cdf81b\"},\"headline\":\"Signing the investment agreement with ISEC Associates and Computer Learning Center\",\"datePublished\":\"2021-08-20T15:32:48+00:00\",\"dateModified\":\"2021-08-20T15:32:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\"},\"wordCount\":351,\"publisher\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#organization\"},\"articleSection\":[\"Current reports\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\",\"url\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\",\"name\":\"Signing the investment agreement with ISEC Associates and Computer Learning Center - Bittnet Investors Relations Site\",\"isPartOf\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#website\"},\"datePublished\":\"2021-08-20T15:32:48+00:00\",\"dateModified\":\"2021-08-20T15:32:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/signing-the-investment-agreement-with-isec-associates-and-computer-learning-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/investors.bittnet.ro\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Signing the investment agreement with ISEC Associates and Computer Learning Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/investors.bittnet.ro\/en\/#website\",\"url\":\"https:\/\/investors.bittnet.ro\/en\/\",\"name\":\"Bittnet Investors Relations Site\",\"description\":\"Your Value. 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