Global Finance

Through its private equity funds, Global Finance acquired in late April a majority stake (88%) in TotalSoft SA, a leading Romanian software company, by buying out passive shareholders in cooperation with the company’s management team.

Totalsoft was founded in 1994 by Liviu Dan Dragan, one of Romania's IT experts and a successful entrepreneur. The company has established a leadership position in locally developed Entreprise Resource Planning (ERP) and Human Resources software as well as in project management software. Totalsoft also provides outsourcing services to Western European & American IT services companies, a revenue stream which accounts for more than 20% of its sales. Totalsoft has a strong client list and numerous reference clients in all sectors, from multinational companies (e.g. Orange, GlaxoSmithKline, Henkel) to leading Romanian companies (e.g. Medicover, BCR Leasing, Continental Hotels).

The company has experienced high growth (about 35%) and robust operating profitability of 20% in the past three years. Totalsoft exceeeded $5 million in revenues and reached $1.2 million in EBITDA for 2004. Both ERP software and outsourcing services are expected to grow significantly in the next years. As Romanian businesses only recently began spending on IT infrastucture for their operations, the opportunity for future growth is very promising. Totalsoft is also expected to benefit from the anticipated increase of IT spend in Romania as the country prepares to join the European Union.

Well afore everyone have that http://cialis.com found with ease in the Internet. In particular on our website it is full of it. But you forget and constantly you ask.