Enea sells its software development services business

“The divestment of Software Development Services reinforces our focus as a software product specialist for telecommunications and cybersecurity. The 5G and advanced cybersecurity market is entering an exciting phase, and we see opportunities to challenge established competitors and gain market share,” says Jan Häglund, President and CEO of Enea. “The divested business will leverage AROBS’ extensive international services organization to deliver additional value to customers in several areas.”

Software Development Services operated as an independent company within Enea. Following the sale, AROBS takes over responsibility for Enea’s customers in this area and becomes a software service provider for Enea.

“AROBS has been providing expert software development and IT services for over 20 years to a wide range of industries, giving us the ability to provide continuity and broader customer service to Enea,” says Here is Oprean, Founder and CEO of AROBS. “We welcome Enea’s Software Services team to AROBS and value their experience, which will be a great complement to AROBS’ Software Services and Embedded Technology business line.”

The transaction involves the sale of 100% of the shares of Enea Software AB’s 100% subsidiary, Enea Services Romania SRL, at an enterprise value of €17.9 million on a cash and debt free basis, including normalized working capital. The divested company will operate under the AROBS brand following the closing of the transaction. In 2021, the Enea Software Development Services activity generated 113 million Swedish crowns of net sales (GAAP) and contributed with 20 million Swedish crowns in operating income (pro forma).

In the event of a successful closing, the transaction will increase Enea’s net income by approximately SEK 115 million. The purchase price will be paid in cash. The transaction will strengthen Enea’s financial position and have a positive impact on the company’s gross margin. Subject to customary closing conditions, the transaction is expected to close in the second quarter of 2022.

Transaction costs are estimated at approximately 11 million Swedish crownsincluding the separation process and operational realignment following the divestiture.

Invescom Corporate Finance acted as M&A advisor and Popovici Nitu Stoica & Asociatii acted as legal advisor to Enea in this transaction.

contacts

Jan Häglund, President and CEO
Email: [email protected]

Ola BurmarkFinancial director
Email: [email protected]

About Enea

Enea is one of the world’s leading software specialists for telecommunications and cybersecurity. The company’s cloud-native products are used to enable and protect services for mobile subscribers, enterprise customers and connected devices. More than 4.5 billion people trust Enea technologies in their daily lives.

Enea is headquartered in Stockholm, Swedenand is listed on Nasdaq Stockholm.

For more information: www.enea.com

About AROBS

AROBS Transilvania Software is the largest technology company in Romania listed at Bucharest Stock Exchange. AROBS provides software services and solutions in various industries, with approximately 70 Software Services business line customers located in Europe and America, and more than 10,000 customers from the Software Products business lines, Europe and Asia. AROBS is present on 10 sites in Romania and 7 abroad, and hundreds of AROBS specialists are building the solutions of the future in the fields of automotive, embedded, clinical trials, travel, IoT, Fintech and data solutions. ‘business.

Learn more about the AROBS Group: www.arobs.com

Margie D. Carlisle