Alten Group completes the acquisition of Qualitance

Qualitance, the international technology and innovation company founded in Romania becomes part of the Alten Group, following the approval of the acquisition transaction by the Romanian Competition Authority.

Radu Constantinescu will continue to lead the company operations as Managing Director of Qualitance, which remains an independent entity within the group. Ioan Iacob will further develop Flowx.AI, the technology start-up initially incubated in Qualitance, which attracted the second largest seed investment in Europe at the end of 2021 – 8.5 million dollars and which has expanded its international presence.

Qualitance ended 2022 with an estimated turnover of EUR 17.5 million, which translates into a 35 percent increase from the previous year and continues its upward trend with the objective of a 20 percent annual growth and an improvement of its profitability, driven by the continuous development of its two business lines – technology innovation services, including product design and development, and technology outsourcing services. The company will keep its identity and autonomy, both in business generation and governance, and will integrate Alten’s operational model in several stages.

“The Qualitance team brings in the ALTEN Group a deep understanding of technology and of the development of digital solutions, experiences, and businesses, as well as a shared vision of what customer success entails. Through this valuable addition, which is exciting for us, we anticipate an increase in the geographical footprint of our group, especially in Central and Eastern Europe”, adds Axel Girardetti, Director of Alten Group Central & Eastern Europe.

Qualitance will maintain its autonomy and current team, which numbers 220 technology and design specialists. This year the company anticipates growing the size of its team by 20 percent, an increase that is directly tied to the development of its projects and client portfolio.