Connections, a technology company listed on the Bucharest Stock Exchange, AeRo market (symbol CC), announces the completion of the sale of the Back Office Services division in Bulgaria, Serbia and Romania, held through its company Outsourcing Support Services S.R.L. (OSSR), to the company IGT Solutions – headquartered in India (headquarters) and with activity including in Europe/Romania (Bucharest).
The signing of the SPA (Share Purchase Agreement) took place in March 2025, following a strategic decision by Connections to focus on developing the business in the core areas – artificial intelligence and cybersecurity.
The transaction value amounts to 4.5 million euros, and part of the fixed component of the price has already been paid.
“The completion of the sale process of OSSR Romania together with the subsidiaries in Bulgaria and Serbia provides us with part of the capital necessary to start a new investment phase: the development of advanced artificial intelligence and cybersecurity solutions – which we have been preparing since the beginning of 2025. The transaction concluded with IGT Solutions means consolidating Connections’ position, at a time when new technologies have the power to change the rules of the game in all fields and industries“, believes Bogdan Florea, Founder & Co-CEO of Connections.
Following this transaction, IGT Solutions takes over the teams from OSSR subsidiaries in Romania, Bulgaria and Serbia (approximately 150 employees), which will contribute to scaling operations and strengthening the company’s competitive advantage in Europe.
In 2025, Connections marks its first 20 years of activity on the Romanian market, during which it has recorded notable performances: listing on the stock exchange (2021), a record year in terms of revenues (2023), the first double-digit profit margin (2024), strategic institutional digitalization projects, and dividends distributed each year to its investors.
The next step, from a capital market perspective, is the company’s transition to the regulated market, an approach that Connections is preparing both by increasing the standard of corporate governance and by constantly improving its financial performance.