Axigen Messaging acquired by four Romanian entrepreneurs
Bucharest, March 11 2014. Gecad Ventures announces a new exit, the takeover of Axigen Messaging by a group of four Romanian entrepreneurs with investments in the local IT industry. The value of the transaction is confidential.
Axigen was launched in 2004 with the aim of delivering top e-mail communication technology in Romania and abroad. The Axigen technology has since been adopted by internet service suppliers, telecom operators, government institutions and foreign companies.
“Since Gecad Ventures is now focusing on investing in Internet and eCommerce companies, the decision to find for Axigen Messaging a new direction came only natural. I am content that Axigen will develop in the hands of young Romanian entrepreneurs who have vast experience in projects of IT solutions integration at global level. I expect Axigen to grow exponentially from now on by receiving a strong impulse from the new shareholders, both in terms of marketing and sales, as well as in the development of new technologies and services,” said Radu Georgescu, Founding Partner of Gecad Ventures.
Axigen was acquired by Cristian Daniel Draghici, Bogdan Moldovan, Ion Nistor, and Vlad Trofin. The four entrepreneurs have invested in various technological companies such as Modulo Consulting which is an integrator of IT tailored professional solutions.
With this new acquisition, Axigen Messaging will facilitate its development by making it part of a group of IT integrators, which should allow easier access to clients and complex projects. This is a strategic decision, which will allow Axigen to grow further, according to the press release.
”Axigen is a communication product for both internet providers and organizations who wish to optimize their communication and internal collaboration, which has a great potential that we will keep on developing. We are delighted to take over this product and the people that helped to build it,” said Bogdan Moldovan, one of the four entrepreneurs.
Over the last 20 years, Gecad Ventures has built various technological businesses from scratch. It also numbers several successful international exits to key players in the IT industry among which RAV Antivirus security solution acquired by Microsoft in 2003, ePayment, currently known as PayU Romania, acquired by South-African group Naspers Ltd. in 2010 and in October 2013, Avangate’s acquisition by Francisco Partners.
In the near future, Gecad Ventures will continue to support the entrepreneurial community in Romania and invest in software and hi-tech companies, including startups from fields such as Fintech, security software, cloud technologies, eCommerce and wearables.
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