The Romanian group Bittnet Systems (BNET) has signed the contract for the sale of 50.2% of the IT infrastructure services company ITPrepared for RON 6.12 million (EUR 1.2 million). The sale will be complete within 5 working days from the signing of the share sale-purchase agreement.

The sold company, rebranded as Optimizor, has been part of the Bittnet group’s Digital Infrastructure division since August 2021, when Bittnet acquired the majority stake from the two co-founders. Back then, the total purchase price amounted to RON 3.9 million (EUR 770,000) and was paid in 3 installments. The last two installments were adjusted based on Optimizor’s financial performance in 2021 and 2022.

In the nearly 4 years since joining the Bittnet group, Optimizor underwent an extensive rebranding process and grew its turnover from RON 2.34 million (EUR 470,000) to over RON 9.77 million in 2024 (EUR 1.95 million). 

"Through the sale of the 50.2% stake in Optimizor, Bittnet achieves an internal rate of return margin of approximately 40%. The sale of the majority stake in Optimizor aligns with the Bittnet group’s strategy, announced at the beginning of last year, to increase the profitability of its portfolio holdings and to simplify the group structure," the company states in the press release.

Bittnet was founded in 2007 by Mihai and Cristian Logofătu, focusing on delivering IT training and integration solutions based on technologies from market leaders such as Cisco, Microsoft, Dell, Oracle, HP, VMware, Google, Amazon Web Services, etc.

Since March 2015, Bittnet has been listed on the Bucharest Stock Exchange under the trading symbol BNET. 

radu@romania-insider.com

(Photo source: the company)