“This merger represents a strategic step in consolidating AROBS's position in providing software services. The process takes place in an economic and market context that requires a strategic approach to streamlining operations and enhancing the group's competitiveness. The integration of the activities of these three companies into AROBS Transilvania Software will generate multiple benefits, such as increased operational efficiency by eliminating administrative redundancies and fully integrating infrastructure and processes. Moreover, the merger will simplify the group structure, facilitating strategic decision-making and resource management. Reducing operational costs through optimized procedures and leveraging existing synergies is another important benefit, along with improving our market position in terms of financial strength and our ability to deliver state-of-the-art software services,” stated Voicu Oprean, Founder and CEO of AROBS Transilvania Software.
The merger process marks the first step in a series of similar initiatives that AROBS's management plans to implement in the long term, aiming to create a unified operational structure that maximizes the resources, expertise, and synergies of the group's companies. As part of the merger, AROBS Transilvania Software will absorb AROBS Development & Engineering, BERG Computers, and Nordlogic Software by fully transferring their assets and liabilities in accordance with applicable legal provisions.
The merger is subject to approval by the Extraordinary General Meeting of Shareholders. Following approval, the absorbed companies will be dissolved without entering liquidation, and AROBS Transilvania Software will assume all their rights and obligations. No new shares will be issued, and the share capital of AROBS Transilvania Software will remain unchanged. Contracts, employees, licenses, and all other operational elements of the absorbed companies will be automatically transferred to AROBS Transilvania Software.
The initiation of the merger process coincides with the three-year anniversary of AROBS's listing on the Bucharest Stock Exchange, a period marked by accelerated group growth organically and through 10 M&A transactions. Financially, AROBS's consolidated total assets have increased by 348%, from RON 142.4 million as of December 31, 2020, to RON 638.3 million as of September 30, 2024. Cash reserves have grown by 413%, from RON 46.5 million in December 2020 to RON 238.4 million as of September 30, 2024. Consolidated turnover has increased by 134%, from RON 173.1 million at the end of 2020 to an estimated RON 404.9 million for 2024.
