Genesys could thus become the first IT&C company in Romania to list on BVB. One of the largest IT&C retailers, Flamingo, was listed on BVB in 2005. “It is too early to provide further information about a BVB listing in the first half of 2008 and to decide if this option is right for us. In the event that we opt for listing, one of the investment targets will be the group’s growth by means of company acquisitions in Romania and Central Europe,” Baltag told Business Standard. “Once a company exceeds $50 mln (€34 mln), one considers listing, and we believe we will surpass this amount next year,” said Baltag. He added he has not yet considered selling the company, although offers have been made.
The Genesys group is made up of Genesys Systems, dealing with IT systems integration, Genesys Distributie, Genesys Distribution OOD Bulgaria, and One Net Services (web solutions). In 2006, the group posted turnover worth $30 mln (€24 mln).
The group’s main competitors are Tornado Systems, Flamingo Distributie, and Proca (part of the RTC group). According to an IDC market research study, in 2006 services integration made up 24.3 per cent or some $60 mln (€41 mln) of the IT market’s total value, estimated at some $244 mln (€168.91 mln).
IT&C on BV
Genesys could thus become the first IT&C company in Romania to list on BVB
