Softbinator Technologies signs MoU for takeover of Romanian software company E-spres-oh
Softbinator Technologies announces the conclusion of a Memorandum of Understanding for the full takeover of ESPRESOH TECH S.R.L. (E-spres-oh), a company specialized in software development, consulting, testing and UI / UX and one of the best-known local brands in Timisoara.
Following the transaction, Softbinator Technologies will expand its portfolio with new clients, predominantly from the United States (New York and Washington DC) and will integrate in its team 40 new employees and collaborators, who will be coordinated, including after the completion of the transaction, by Daniel Markovits, the current CEO of E-spres-oh. The price of the transaction is USD 600,000 paid in cash, plus shares of Softbinator Technologies, representing the equivalent of the profit recorded during 2022 multiplied by 2.2. The price is going to be paid in two installments during the years 2023-2024.