BUCHAREST (Romania), May 26 (SeeNews) – Romanian software developer Softbinator Technologies [BSE:CODE] announced on Thursday that it was taking over local merchandise distributor Digital Tailors for an undisclosed amount.
By adding the services of Digital Tailors to its portfolio, Softbinator aims to increase the success rate of launched products, while providing its customers with integrated services for the launch of new products, it said in a press release. .
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For its part, Digital Tailors is aiming for revenues of more than 1.1 million lei (237,600/222,500 euros) in 2022, as part of Softbinator.
To carry out the transaction, Softbinator Technologies will use part of the capital raised from investors of the Bucharest Stock Exchange during the private placement of its shares, which took place in September 2021. This is the second transaction of the company with funds raised on the capital market after the WiseUp takeover at the end of 2021.
“Following today’s transaction, we are adding a new category of services – product marketing, to our portfolio and thus completing the cycle of services that a technology company needs to enter the market with a new product” , said Softbinator Technologies Founder and CEO Daniel Ilinca. .
Founded in 2017, Digital Tailors is a Romanian product and content marketing agency. Its portfolio includes clients from Romania, Germany, Spain, Hungary, Bulgaria, as well as the United States. According to the press release, Digital Tailors’ turnover was 0.85 million lei in 2021.
Softbinator Technologies was established in 2017 and employs around 100 people in Bucharest and Constanta. Its portfolio includes clients from the United States, Israel, Singapore, Romania and the United Kingdom. The company posted a net profit of 2.6 million lei in 2021, up 3% on the year and a turnover of 15.1 million lei, up 22% year on year, according to the data. of the Ministry of Finance.
Earlier this month, Softbinator announced the opening of an office in Silicon Valley, aiming to increase its US customer base.
Its shares traded down 0.29% to 68.4 lei/share at 09:55 CET on Thursday at the Bucharest Stock Exchange.
(1 euro = 4.9417 Romanian lei)