The majority stake of TotalSoft, a Romanian software company specialized in ERP and HR applications, has been bought)press release here) by Black Sea Fund LP and Global Bulgaria & Romania Growth Fund CV. Exports and outsourcing services make 20% of its' 5.1 million USD turnover in 2004.
TotalSoft aquisition who follows a series aquisitions mentioned earlier this year proves that the Romanian software industry becomes more mature and as the big players get investment and more funding and i think soon we will start to see merger actions among the smaller-medium players as well.
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