Naspers snaps up profit-savvy e-commerce integrator
November 2010 - From the Print Edition
Media group Naspers-owned MIH Allegro has taken over 83 per cent of Gecad ePayment International, the Romanian eCommerce solutions integrator market leader. Gecad owner Radu Georgescu will keep 17 per cent of Gecad ePayment and will pass from the position of CEO to a member of the board of directors. In 2009 the turnover of Gecad ePayment doubled compared to 2008, up to 2.4 million Euro with a gross profit of 700,000 Euro.
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