ELKOTech Romania has strengthened its market position with the buyout of value-added distributor, IT Smart Distribution for an undisclosed amount. When the deal is finalised over the coming months, it will create distributor with combined revenues of over US$125 million.
"Strengthening positions in the CEE region is one of our strategic directions,” said Svens Dinsdorfs, CEO, ELKO Group, the parent company of ELKO Tech.
“The Romanian market shows a good potential to grow and has been in our focus for some time now. Over the past three years, our subsidiary in Romania has undergone reorganisation and the development of a new strategy. The acquisition of IT Smart Distribution is an important milestone in this long journey. Consolidation is key to overcome tight competition in the industry and to meet our ambition to become the first choice for customers in Romania,” he added.
Complementary product portfolios and the combined strength of both companies will enable the new entity to “address and serve” any retailers, systems integrator or IT project in Romania claimed a statement from ELKO.
“IT Smart Distribution is a strong company with a good reputation in the market. We see a lot we can learn from each other,” said Carmen Stanciu, general manager, ELKO Romania and IT Smart Distribution.
“Knowledge sharing, team competence and an extended portfolio will ensure the best-in-class experience for all our customers and partners. I look forward to reaching new heights together, especially in the IT solution business,” she added.
