Romanian antivirus producer Bitdefender completes takeover in Singapore
Source：https://www.romania-insider.com/; https://www.profit.ro/
From：Taiwan Trade Center, Bucharest
Update Time：2023/09/30
The provider of IT security solutions Bitdefender, one of the best-known Romanian IT brands internationally and the largest local software producer, controlled by the family of entrepreneurs Măriuca and Florin Talpeș, has completed the deal to buy Singapore-based cyber security firm Horangi.
Horangi, founded in 2016, has 121 employees. Its flagship platform, Horangi Warden, is a cloud solution that secures critical infrastructures for hundreds of organizations across all major public cloud platforms, including AWS, Azure, and Google Cloud.
With this acquisition, Bitdefender will incorporate Horangi's Cloud Infrastructure Entitlement Management (CIEM) and Cloud Security Posture Management (CSPM) capabilities into Bitdefender's unified security and risk analysis platform GravityZone.
Last year, Bitdefender recorded business of 1.45 billion lei, up 34.5% compared to 2021, according to data analyzed by Profit.ro. Net profit increased by 34.6% to 292.3 million lei, which is the equivalent of 20.15% of turnover, from 20.02% in 2021 and 16.2% in 2020. Debts climbed by 31.8%, to 191.8 million lei, while receivables decreased by 9.3%, to 243.6 million lei. The average number of employees increased by 8.8%, from 1,350 to 1,469.
At the end of last year, the company had liquidity in accounts of 177 million lei, 55.6% less than in 2021. In December 2021, Profit.ro announced that Bitdefender was preparing to launch an IPO on the US capital market, the consultant employees being JP Morgan and Morgan Stanley, at a valuation that would bring it unicorn status. In 2017, Bitdefender was valued at over 600 million dollars following a transaction through which the European fund Vitruvian Partners took over 30% of the company's shares from Axxess Capital.
Source: https://www.romania-insider.com/; https://www.profit.ro/