Omnilogic, the biggest distributor of IT&C products on the domestic market, whose business stood at 135 million euros last year, has acquired SoftNet Development & Consulting, the most important company of the SoftNet group. SoftNet Development & Consulting develops software and is a provider of IT solutions and services. The transaction was conducted in July, with Omnilogic SRL already showing up with a stake of 99.69% in SoftNet Development & Consulting in the Trade Registry's records. No information about the type of transaction between the two companies (cash or stock swap) or about its value was revealed yesterday. According to the available Trade Registry data, Vasile Baltac only sold shares in SoftNet Development & Consulting, so that he may remain in the business, as chairman of the other companies of the group.
The two companies have called a news conference for today to make an announcement that is "strategic and important for the entire IT&C market in Romania." When contacted by ZIARUL FINANCIAR, Gabriel Marin, Omnilogic general manager and shareholder and Vasile Baltac, chairman and owner of the SoftNet group, declined comment on today's' announcement. "We have an agreement and cannot provide any information prior to the news conference," Marin and Baltac said.
SoftNet Development & Consulting, the largest company in the SoftNet group made 1.7 million-euro turnover last year, from the 3.6 million euros the five companies of the group achieved as a whole. SoftNet group had estimated a 33-35% increase in turnover to 4.8 million euros for this year. The estimate included the company sold to Omnilogic. SoftNet Development & Consulting has a team of over 40 software developers and is one of the top partners of US-based IBM in Romania. The software services business of the company attained a 37% growth rate last year compared with 2004. According to the data on its website, SoftNet Development & Consulting customers include Orange, Vodafone, Bancpost, Lafarge, BAT Romania, Coca-Cola, Bayer Romania, Transelectrica, Electrica and the Finance and Health Ministries. The SoftNet group includes four more companies: eServ Global Telecom, SoftNet Business Services, SoftNet Financial Systems and ITC. eServ Global Telecom is a joint venture with the French company of the same name, and develops specialised software, such as platforms for prepaid cards for telecom operators.
The SoftNet group is controlled by Vasile Baltac, 65, and was established in 1996. Baltac's ties with the IT industry go way back to the '60s. He had been state secretary for research and investment with the Ministry of Machine-Tool Industry and general manager of the Electronics and Computing Technology Industrial Central Department prior to 1989. After 1990, Vasile Baltac was a deputy of the Minister of Electrical Industry, state secretary with the Industry Ministry and member of the Boards of Directors of the State Ownership Fund.
The information about a possible acquisition of SoftNet by Omnilogic had been floating around the market for a few months, but was not officially confirmed by the parties.
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