Bittnet Systems marks one year since listing on BVB

Bittnet Systems, the first IT company in Romania to get listed on BVB, AeRO market, under BNET title.

2016-04-13 17:58:13

In the first listing year, the company states that it achieved the established operational targets, such as the growth of sales and technical team, the achievement of three new competencies such as Cisco Gold Certified Partner and the launch of a new business line, such as Citrix Training Center and ITIL Authorized Training Partner.

Also, the company has been included I the past years in Deloitte Fast 500 in EMEA zone. The company reported a drop if PER indicator to 10, compared to 37 registered on April 15. The achivments and the company plans for 2016 will be stated at the one year listing event to be held on Friday, at Bucharest Stock Exchange.

The company focuses on IT trainings and delivering end-to-end IT infrastructure services and solutions from market leaders like Cisco, Microsoft, Dell, VMware, HP and others.

The Polish company INC is the Authorized Advisor that assisted Bittnet Systems in the process of coming to AeRO and will continue to assist it for the subsequent 12 months after listing.

Bittnet Systems was established in 2007 by Mihai and Cristian Logofatu, who gathered a small but enthusiastic technical team, all having training experience gained at Credis Cisco Networking Academy since 2000. After 7 years of delivering IT trainings to students and individuals, Mihai and Cristian Logofatu established Bittnet, the new project, aiming the Romanian B2B market. Since inception, the company decided to focus on delivering IT trainings and end-to-end networking solutions and services based on technologies from market leaders like Cisco.

That is why, by the end of 2007, Bittnet received the Premier Partner Level from Cisco and managed to deliver few pieces of hardware equipment and couple of training sessions. The same year Bittnet started cooperation on Cisco trainings with Siemens, Datanet Systems and Romtelecom (currently Telekom Romania).

Year by year, according to company data, Bittnet increased its client base with big companies such as IBM Romania, Metro Systems Romania, Mit Motors International, Praktiker, Porsche Romania, TNT Express, Wiebe Romania, Dacia, Erste Bank, Cosmote Romania (currently Telekom Romania), Cycle European (Part of ICAP Group), E.On Romania. After the November 2011 "Venture Connect" event, Razvan Capatina, a private investor, joins the shareholders of the company, bringing capital to be used to strengthen the sales and marketing efforts. Based on the capital infusion, the company develops the sales team hiring 5 new account managers to reach for new customers across the country and to increase sales. The company decides to set up an advisory board made of 3 highly experienced entrepreneurs and managers from different industries in order to support the growing efforts. The board members are offered stock options in exchange for their contribution to help further develop the company.

In 2012, Bittnet was named the Cisco Learning Partner of the Year for the second year in a row during the annual Partners event. Revenues continued to grow up to a total of 855,000 Euro.
In 2014, the company has strongly increased the IT services (consulting, audit and design), even exporting IT professionals to implement Datacenter projects in Germany. During 2014, Bittnet has been recognized as part of the Technology Fast 500 Top in EMEA by Deloitte (position 333) and in the book of Romanian Entrepreneurs as a result of participation in the EY Entrepreneur of the Year Competition. The company added 2 new vendors to the training portfolio. It became Amazon Web Services Authorized Training Partner, Oracle Education Reseller and Oracle Partner Network Silver Level. The company initiated the process of going public by listing the shares on the AeRO market. Revenues continued to grow up to a total of over 1,8mn Euro.

In March 2015, Bittnet raises additional 150,000 Euro by selling 10 per cent of its shares to Carpathia Capital with an intention to further increase selling capacities and to grow revenues in the future.