Romania’s best-known IT brand valued at USD 600 mln after transaction

London-based private equity fund Vitruvian Partners has bought a 30% stake in Romanian cybersecurity group Bitdefender from local investment fund Axxess Capital. The deal has set a valuation of USD 600 million for the Romanian IT group, which serves over 500 million clients worldwide, according to Romania-Insider.com.

Vitruvian Partners thus became the second-biggest shareholder in Bitdefender. Romanian entrepreneurs Florin and Mariuca Talpes, the group’s founders, continue to hold the majority stake in the company. A group of private investors hold a minority stake.

“This transaction demonstrates the rapid growth and scale of our business as we are now valued at over USD 600 million,” said Florin Talpes, Bitdefender Founder and CEO.

“Vitruvian’s extensive experience investing in high growth technology companies endorses our strategy for international growth and in particular the significant investment we are making in building our Enterprise Solutions offering and our presence in the United States,” he added.

Bitdefender has scaled up its international operations significantly over the past few years, in particular driven by corporate customers addressed by its Enterprise Solutions headquarters in Santa Clara, California. As a result, more than 40% of sales are currently generated in the US, which continues to be the company’s fastest growing region.

 

Read more HERE

Comments

comments

Leave a Reply

Your email address will not be published. Required fields are marked *

two × 5 =