RTPR advises IPS Solutions on majority stake acquisition in Avaelgo

RTPR has assisted IPS Solutions Group in relation to the acquisition of the majority stake in Avaelgo SRL from the founder Mihai Tataran. Avaelgo is a Romanian IT services company founded in 2006, which provides full-service tech solution & managed services. IPS Solutions Group is a leader on the European software market, offering consultancy in technology, digital solutions and cloud services.

The project team was made of Alina Stavaru (Partner) and Andrei Tosa (Managing Associate).

“We would like to thank IPS Solutions for trusting us with this mandate that we are honoured and proud to have successfully closed. We are happy to add them to our client portfolio and at the same time to expand our transaction track record with a new project. We are proud of our highly experienced M&A team that is constantly involved in the most exciting transactions on the market”, declared Alina Stavaru, Partner of RTPR.

“It was a beautiful project and we are happy to have contributed to its success. Romanian technology companies continue to attract the interest of international investors. For Avaelgo this is a new beginning alongside an experienced investor such as IPS Solutions, who will surely provide the necessary support for the next phase of development. Congratulations to all parties on the success of this transaction!”, said Andrei Tosa, Managing Associate at RTPR.

RTPR’s Corporate/M&A team is well known for its extended transactional experience. Last year, RTPR signed 26 M&A transactions, out of which 10 private equity deals. Legal 500, Chambers & Partners and IFLR1000, the most reputed international legal directories, rank RTPR’s Corporate/M&A practice in first tier in the annual rankings for the law firms in Romania. At the same time several of the team’s lawyers are recommended as Leading Lawyers or Rising Stars in individual rankings produced by these publications.

Selected TMT (technology, media, telecom) deals in which RTPR have recently advised are set out below:

• Innova Capital on the acquisition of a majority stake in NETOPIA Group, one of the best known payment service providers (PSP) in Romania
• AROBS Transilvania Software, an important Romanian company that provides software services and solutions in various industries, on the acquisition of the Future WorkForce Global group, specialised in providing complex business process automation solutions
• Evolution Prest Systems S.R.L., the company that owns the e-commerce website www.evoMAG.ro specialised in IT&C, telecoms and FMCG products, on the acquisition of a majority stake in Elefant Online, the owner of the online store elefant.ro
• The founders of Qualitance, Radu Constantinescu and Ioan Iacob, in relation to the sale of the company to Alten, a French technology and innovation consultancy and services group, with international operations in 30 countries
• Catalyst Romania on the acquisition of a minority stake in Evolution Prest Systems S.R.L., the company that owns the e-commerce website www.evoMAG.ro
• AROBS Transilvania Software on the acquisition of Enea Services Romania SRL, the software development services business of the Swedish group Enea AB, one of the world’s leading specialists in software for telecommunications and cybersecurity
• Sarmis Capital on the acquisition of a majority shareholding stake in Smart ID Dynamics S.A., an important provider of highly customised end-to-end automation solutions for intensive business environments, leader in the Romanian IT industry
• The shareholders of Berg Software, a local software outsourcing and custom software development company, on the sale of 100% of the company to AROBS Transilvania Software, a provider of software services and solutions for various industries
• The founders of Keez on the sale of the majority stake to Visma group, one of the largest software development companies in Romania, based in Norway
• Abris Capital Partners and GTS Global Intelligence S.A. on the acquisition of Knowledge Investment Group SRL, operating under the Lummetry.AI brand, a Romanian artificial intelligence business