Ukrainian GlobalLogic, an IT company of the Hitachi group, has announced the acquisition of Fortech, a leading Romanian software development company.
Fortech is headquartered in Cluj-Napoca and is one of the largest digital engineering companies in Romania, GlobalLogic said on Wednesday.
The terms of the transaction were not disclosed. Under the agreement, Fortech will continue to operate with its existing leadership and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approval and is expected to close by the end of Calendar Q4, 2022. The transaction will strengthen GlobalLogic’s presence in Europe by opening up access to Romania’s strong talent pool and Blue-Chip’s customer base.
In addition, GlobalLogic has opened an office in Bucharest and is inviting engineers to join the company in Romania.
“Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution. This acquisition will further enhance GlobalLogic’s presence in Europe and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong backing of GlobalLogic and Hitachi,” Nitesh Banga, President and CEO of GlobalLogic, said.
Fortech was founded in 2003, and it cooperates with more than 1,100 specialists. With offices in four cities in Romania, it provides a full range of digital engineering services including architecture design, software development, DevOps, QA and data analytics. It specializes in Cloud, IOT and SaaS.
The press release states that GlobalLogic’s investment in Fortech is part of the company’s multi-year strategy to increase its value in the European market and help better serve customers around the world.
