Bittnet announces new business divisions structure

  • Bittnet presents a new structure within the company, focused on two areas of activity: education and technology, but also expanding international presence.
  • dendrio, a new brand in the Romanian IT sector, delivers a wide array of IT integration services, combining years of expertise jointly accumulated by Bittnet and what was formerly known as GECAD NET.
  • Bittnet Group aims for RON 100 million in sales by 2020.

Bittnet (BNET) introduces dendrio, a new entity within Bittnet family, which combines IT integration services that were previously rendered under two separate brands – Bittnet and GECAD NET. Bittnet acquired GECAD Net in third quarter of 2017.

“We are pleased that the full integration of what was formerly known as GECAD NET is now officially finalized and we can continue delivering quality services under a new and clear structure” said Mihai Logofatu, CEO at Bittnet.

With the introduction of dendrio brand, Bittnet also announces new structure within the Group, focused on two domains of activity:

  • Education, which currently consists of IT training segment where Bittnet is a market leader, and which in the future will also include any other education-based initiatives, including future integration of activities of Equatorial, a game-based learning company. Education activities will be carried out under Bittnet
  • Technology, which will be focused on IT integration services, offering integration solutions that were previously offered by both, Bittnet and GECAD NET. This activity will have a shared products, services and solutions portfolio and a larger team that allows for bigger workload, both from technical and sales standpoint. In the near future, Elian Solutions, a company in which Bittnet plans to take a 55% stake later this year, will complete the services offer by adding ERP solutions to the group’s portfolio. Technology activities will be carried out under dendrio
  • At the same time, Bittnet aims to accelerate the development of the international division that started to take shape over the last two years and that is expected to generate increasing percent of revenues. The responsibilities under this division include opening new offices abroad, expanding sales and delivery capacities across borders. International activities will also be carried out under Bittnet

“The new division of business lines, split between Bittnet and dendrio, was developed taking into consideration our planned, future acquisitions. We now operate a company that has a clear structure and is focused on 3 key vectors of growth – IT training, IT integration and expanding our international presence. Under this new structure we aim for RON 100 million in revenues by 2020” said Cristian Logofatu, CFO at Bittnet.

dendrio solutions SRL, formerly known as GECAD NET, is a separate legal entity, in which Bittnet SA has a 100% stake. Starting from H1 2018, the financial results of both entities will be jointly presented in Bittnet’s consolidated financial results.