BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company”) informs the investors about the success of negotiations for entry as shareholder in Softbinator Technologies SA with 25% of the share capital. The estimated value of the transaction is $2 million. The payment for existing Softbinator shareholders will be made partially with cash and partially with BNET shares. The proportion between cash and shares will be established after the approval by the Bittnet EGSM of the transaction.
The financial indicators of Softbinator Technologies SA which justify the investment:
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Softbinator Technologies is a product development company specializing in design, development and market launch of software products mainly in the fields of Fintech, MedTech/HealthTech and EdTech for customers in Europe, North America and Asia.
Through its two offices in Bucharest and Constanta, the company serves customers from three continents: North America, Asia, Europe, focusing on the export component of services developed by a team over 80 software IT engineers. The Softbinator brand was launched by Daniel Ilinca in 2011 and starting 2020 Andrei Pitis joined the project as investor and Chairman.
For Bittnet, entering as a shareholder in Softbinator represents the starting of a new area in IT services: software development, by integrating into Bittnet group a company with common values and with which Bittnet can address the American market through joint projects. For more details about Softbinator Technologies, investors are invited to visit the website at: https://softbinator.com/.
The acquisition of the 25% stake in Softbinator Technologies SA will be subject to the approval of the Extraordinary General Meeting of Shareholders, in November 2020. The Convening Notice for EGSM will be published in the next period by the issuer on the www.investors.bittnet.ro website as well as on the Bucharest Stock Exchange website at the issuer’s profile.