Asesoft Distribution, one of the top

 “eMag is a portfolio investment for us and we hope to recover this in three to five years. We took over eMag because we believe it is the Romanian brand with the best online commerce future. We also think that the decline period is about to end,” Asesoft Distribution General Manager, Iulian Stanciu, told Business Standard. Takeover talks lasted less than one month and the acquisition was made with Asesoft’s own funds and a bank loan. The companies will maintain independent operations and remain focused on their current markets. As far as financial details are concerned, Stanciu declined to specify the value of the deal. However, he did say that the funds will reach eMag in several stages in the coming six months, and will be invested in an online commerce platform with access for distributors and retailers, based on the Amazon.com model. eMag’s Marketing Manager and shareholder Radu Apostolescu said that talks to attract financing in the company began one year ago, and that these took place with several financial and strategic investors. One of these investors was Balkan Accession Fund, according to market sources. This is the second acquisition announced by Asesoft Distribution this year, after it took over part of Flamingo International’s distribution division. “It is hard to say if we will make further acquisitions, because these are complex processes which we must finalize. We do not want to take many risks, we do not want to be number one. Our goal is the company’s profitability and stability,” Stanciu added.