GlobalLogic Inc. recently secured a definitive agreement to acquire Romanian software engineering services company, Fortech, according to a press release. The financial terms of the deal have not been disclosed.
“Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution,” said Nitesh Banga, president and CEO, GlobalLogic. “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.”
Based in Cluj-Napoca, Fortech has contributed to the development of more than 1,000 digital projects throughout nearly two decades of operations. Counting with the support of more than 1,100 people, the company has established a presence in four Romanian cities to fulfill the demands of various clients across a wide range of industries.
Fortech is allowed to operate as a wholly owned subsidiary of GlobalLogic. Subjected to customary regulatory approval, the transaction was projected to closed by the end of Q4 2022.
“These achievements and capabilities will help GlobalLogic further expand its customer and talent base, as it aims to address the robust global demand for digital transformation (DX),” a recent press release explains. “Additionally, Fortech’s seasoned leaders will bring valuable technical and domain experience along with strong relationships across European markets and marquee clients.”
Established in 2003, Fortech has developed a varied portfolio of digital engineering services, which include architecture design, software development, DevOps, quality assurance and data analytics.
The company is credited with architecting, building and maintaining products for clients in various industries. Fortech specializes in automotive, banking/finance, healthcare, manufacturing, professional services and technology/media/telecom.
“We’re proud of our legacy, which is based on helping companies realize the power of transformative digital solutions,” said Calin Vaduva, CEO, Fortech. “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.”
The investment forms part of Fortech’s multi-year strategy to expand its European footprint.
“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 press release stated.