IT companies preparing the cash for future takeovers

 “Last year’s budget amounted to €2 million, lower than this yearts. There are opportunities on the market. This is a time when very many companies on the market will be weeded out. We made several attempts last year, but prices were unjustifiably high,” according to a statement for Business Standard by Bogdan Musat, Strategy and Marketing Director of Total Soft.

He added that his firm is looking for companies whose profile is complementary to TotalSoft’s, both in Romania and the region. Razvan Ziemba, Executive Director of Asesoft Distribution, company involved in IT distribution, which acquired Combox Delivery in 2008 for €2 million, declared that although no acquisition budget has been set yet for this year, funds will be allocated as opportunities arise.

“I believe that a company that was worth €5 million in 2008 could now be acquired for €500,000, due to new market conditions. I am sure there will be opportunities on the market, and we will not hesitate to consider these,” said Ziemba.