GlobalLogic acquires Fortech
- ByStartupStory | November 21, 2022
Fortech, a top provider of software engineering services with headquarters in Romania, has been acquired by GlobalLogic Inc., a Hitachi Group subsidiary and market leader in digital engineering, according to a definitive agreement that has been signed. Fortech, with its headquarters in Cluj-Napoca, has worked on more than 1,000 digital projects for hundreds of clients over the course of its nearly two-decade existence. This track record has helped the company establish itself as one of the biggest independent digital engineering firms in Romania.
With more than 1,100 employees, Fortech supports elite clients in a variety of industries out of four cities in Romania. As GlobalLogic works to meet the strong worldwide demand for digital transformation, these accomplishments and capabilities will help it grow its client and talent bases (DX). The seasoned leaders of Fortech will also contribute valuable technical and domain expertise, solid connections across European markets, and marquee clients.
Nitesh Banga, President and CEO of GlobalLogic, said of Fortech, “Fortech is a prominent firm with proven track record and specialised in technology that is needed for digital evolution.” “This acquisition will strengthen GlobalLogic’s position in Europe and speed up our access to the wealth of technical talent in Romania; it will provide Fortech access to GlobalLogic and Hitachi’s resources and solid support. We are thrilled to have Fortech join the GlobalLogic family, along with their excellent staff.
Fortech, a digital engineering company founded in 2003, offers a broad range of services, including architecture design, software development, devops, quality assurance, and data analytics. With an emphasis on Cloud, IOT, and SaaS, the company has successfully designed, developed, and maintained products for clients across a wide range of sectors. Fortech has extensive industry knowledge in six crucial, fast-growing industries: the automotive, banking and finance, healthcare, manufacturing, professional services, and technology, media, and telecommunications sectors. GlobalLogic and Fortech are a perfect combination thanks to Fortech’s coverage of important markets and technology. Due to its achievements, Fortech was named one of the Best Managed Companies in Romania for 2022 in the inaugural Deloitte Romania programme.
Calin Vaduva, CEO of Fortech, said, “We’re proud of our tradition, which is based on assisting businesses in realising the power of disruptive digital solutions. “Partnering with GlobalLogic, supported by Hitachi, expands our reach to entirely new heights. Finding a partner who shares our cultural ideals and places a high priority on people, clients, and societal benefit is also very satisfying.
With its investment in Fortech, GlobalLogic is advancing a multi-year plan to expand its European base and improve its ability to supply services to clients globally. With this acquisition, GlobalLogic will be better able to complement Hitachi’s capabilities in information technology (IT), operating technology (OT), and products, grow faster, and support the growth of the Lumada company. The deal’s financial details weren’t made public. According to the agreement, Fortech will continue to function as a fully owned subsidiary of GlobalLogic with its current management and workforce. The transaction is expected to close by the end of Calendar Q4, 2022, subject to customary regulatory approval.
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