bpv GRIGORESCU ȘTEFĂNICĂ advised enterprise software and infrastructure company INCRYS on the acquisition of IT services company USOURCE13 February 2023
bpv GRIGORESCU ȘTEFĂNICĂ advised the Bucharest-based software and infrastructure company INCRYS on acquiring USOURCE, an IT services company based in Cluj-Napoca, Romania, providing digital services primarily to US customers. The transaction was completed in early February 2023.
Our team advised comprehensively on all transaction stages, including due diligence, document drafting and negotiation, signing and closing. The team was led by Iulia Dragomir (Corporate Transactions) and included Laura Popa (Senior Associate), Ana Maria Rotariu (Associate) and other members of the team for the relevant areas of due diligence and transaction advice.
Iulia Dragomir, bpv GRIGORESCU ȘTEFĂNICĂ: We are grateful for INCRYS them having trusted our firm to handle their first in a number of transactions that the company wishes to pursue in the coming months and years. With INCRYS we have a long-standing relationship, the company being one of our oldest business partners since the inception of our law firm and we are glad to be on their side in this new phase of expansion.
Andrei Sandu, CEO of INCRYS: USOURCE is an excellent company with a lot of potential, potential which is directly linked to the quality of its people. The acquisition is a big milestone in our ambitious growth plans for 2023 and beyond. We were fortunate to have such a brilliant and pragmatic team under Iulia’s leadership to advise us on this transaction.
The last year’s success of our Corporate Transactions continues into 2023, which promises to be a very active year, with six running mandates currently in various stages of completion. Recently, our team advised Innoship and its shareholders in relation to the acquisition and investment by Abris Capital portfolio company Alsendo (October 2022), Smart ID Dynamics and its shareholders in relation to the investment of SARMIS Capital in Smart ID Dynamics (January 2022) and on the acquisition of the Brasov-based integrated software solutions provider Spectrum (May 2022). Other notable transactions include the representation of the Scandinavian private equity investor FSN Capital on the acquisition of Mantis Group, a leading international WMS/ logistics software and solutions vendor (February 2022).