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Turkey's TotalSoft completes acquisition of Romania's Architected Business Solutions
BUCHAREST (Romania): Turkish-owned software company TotalSoft said on Monday it has completed the acquisition and merger of Romanian business management consultancy group Architected Business Solutions (ABS).
Following the deal, whose value was not disclosed, TotalSoft consolidates its portfolio of services and solutions, as well as its consulting and project management skills, the company said in a press release.
Now, ABS shareholders own 20% of TotalSoft shares.
Gorkem Tursucu, CEO of ABS and Chief Operations Officer at TotalSoft, became general manager of TotalSoft, replacing Onder Eren, who is taking over as member of the board of directors of the company.
The deal was announced in January this year.
Originally a Romanian company, TotalSoft was acquired by Turkish software company Logo Yazilim from Ferabosco Investments Limited and South Eastern Europe Fund for 30.2 million euro ($35 million) in September 2016.
TotalSoft is a regional provider of business information systems (ERP, HCM, CRM, and BI, as well as integrated solutions specialized in major industries such as leasing, retail, medical services, agriculture, construction and services. TotalSoft has a team of over 500 employees and a portfolio of projects in 46 countries across four continents.