GlobalLogic acquires Romanian engineering company Fortech
GlobalLogic Inc., a Hitachi Group company, announced that it has signed a definitive agreement to acquire Fortech, a software engineering services company based in Romania. Terms of the transaction were not disclosed.
- Fortech was founded 2003 and is headquartered in Cluj-Napoca. With 1,100+ people, the company operates out of four cities in Romania.
- Throughout nearly two decades of operation Fortech accomplished more than 1,000 digital projects for hundreds of clients and positioned as one of Romania’s largest leading independent digital engineering firms.
- Fortech delivers full-spectrum digital engineering services including Architecture Design, Software Development, DevOps, Quality Assurance, and Data Analytics. It holds deep domain experience in six key high growth verticals: Automotive, Banking/Finance, Healthcare, Manufacturing, Professional Services, and Technology/Media/Telecom.
- Fortech also has been recognized as one of the 2022 Best Managed Companies in Romania in the first edition of Deloitte’s Romania program.
- The acquisition will help GlobalLogic further expand its customer and talent base. Additionally, Fortech’s seasoned leaders will bring valuable technical and domain experience along with strong relationships across European markets and marquee clients.
“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. We are excited to welcome Fortech and their talented people to the GlobalLogic family,”Nitesh Banga, President and CEO of GlobalLogic, stated.
- 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.
“Joining forces with GlobalLogic, backed by Hitachi, takes our reach to a whole new level. Additionally, finding a partner that shares our cultural values with a strong emphasis on people, customers, and societal benefit is extremely gratifying,”Calin Vaduva, CEO Fortech, said.
- GlobalLogic’s investment in Fortech is part of a multi-year strategy designed to establish a wider European footprint while enabling it to better serve its customers worldwide from a delivery perspective. This acquisition will further enable GlobalLogic to augment Hitachi’s strengths in Information Technology (IT), Operating Technology (OT), and Products, and accelerate its growth helping expand the Lumada business.
- The U.S. company GlobalLogic was acquired by Hitachi in March, 2021 for $9.6 billion. The company has big offices in Poland, Ukraine, Croatia, Germany, Slovakia, and Romania.