SIVECO redemption of the full share package reaches Top Transactions 2013 | SIVECO Romania

SIVECO redemption of the full share package reaches Top Transactions 2013

Friday, March 28, 2014

Last year, SIVECO Romania management redeemed the full package of 32.5 % shares owned in the company by Intel Capital and Enterprise Investors investment funds

Mergers and Acquisitions activity measures the interest of foreign investors for a country's economy. But it can also be seen as an instrument for measuring the maturity level of local companies. The analysts from the Romanian business newspaper “Ziarul Financiar” said that Mergers & Acquisitions market grew several percents last year, up to EUR 1.3 billion. For this year, the forecast is similar.

The issue of “TOP Transactions 2013” catalogue by “Ziarul Financiar” was the opportunity for nominating and rewarding the most important transactions of 2013 and of the first couple of months of 2014.

At the end of the year, SIVECO Romania management redeemed the full package of 32.5% shares held by Enterprise Investors and Intel Capital investment funds. The strategic decision sent a positive signal regarding the development plans of the company and the commitment of SIVECO’s management.

The transaction was appreciated by the financial analysts as the "Biggest management buyout of 2013".

"After 8 years of collaboration, expectations from both sides were fulfilled. We learned so much from the partnership with Intel Capital and Enterprise Investors. For us, the international expertise and the resources from the two funds were a big impulse and support for the development of a successful business on a regional level. It is time to consolidate now., We have a solid number of signed contracts, which gave us the confidence to do this", said Bogdan Ciungradi, Financial Vice President, SIVECO Romania, at 2014 TOP Transactions Awards Gala.

Founded in 1992, SIVECO is specialized in developing complex projects in eLearning, eHealth, eAgriculture, eCustoms, eGovernment and eBusiness areas. The company has projects in 27 countries and has a portfolio of over 1,500 clients all over the world.

SIVECO Romania solutions help reduce the digital gap and improve the activity of many public institutions such as the Ministry of Agriculture, Ministry of National Education, Ministry of Health, Ministry of Information Society, Ministry of Labor, Ministry of Family, Social Protection and the Elderly, the Ministry of Finance.

The company has built a solid reputation being rewarded with over 180 awards in national and international competitions such as World Summit Award reference (world championship of IT projects), International Project Excellence Award (the ”World Championship” of project management), EdTech 20 Europe, European Business Awards, Stevie Awards, European IT & Software Excellence Awards.