Asesoft founder considers hostile takeover of Siveco

“We do not intend to make an offer over $100 million [€65.7 million] for the takeover of Siveco,” he told Business Standard.

Siveco Romania is owned by Siveco Netherlands (42.2 percent), investment funds Polish Enterprise (22.5 percent), Intel Capital (10 percent), the company’s President and CEO, Irina Socol (10.97 percent), Siveco Romania (3.74 percent), and the remainder belonging to several local businesspeople.

The $100 mln offer was filed two months ago. However, Siveco owners said they either have no knowledge of this or have made no decision. “I do not know about any offer from Sebastian Ghita, so I cannot comment on this matter,” the Senior Manager Strategic Investments CEE of Intel Capital, Dan Lupu, told Business Standard. Questioned about what conditions were necessary for her to accept Ghita’s offer, Irina Socol also declined to provide details. “I have made no decision, so I cannot answer that question,” she said.

This is Asesoft’s second attempt to acquire Siveco Romania, following its offer of €30 mln in September to buy 30 percent of the software provider.