Digital engineering and technology solutions firm Nagarro and software development company iQuest — both members of the German group Allgeier SE — on Friday announced the merger of their operations in Romania.
This merged entity will bring together over 800 employees.
Nagarro has offices in 25 countries globally with major centres in Romania, Austria, Germany, India, Mexico, the UAE and the US. Founded in 1996, Nagarro was taken over by the German technology group Allgeier SE in 2011.
Nagarro has a strong presence in India with over 6,000 employees across its offices in Gurugram, Jaipur, Bengaluru, Pune and Hyderabad.
“The merger between iQuest Group and Nagarro in Romania is part of the business strategy of Allgeier SE, a company listed on the Frankfurt Stock Exchange. The strategy aims to group all entities within the technology portfolio of Allgeier into a separate business unit that aims at independent listing,” a statement said on Friday.
Customers served by iQuest are mainly located in Germany, Switzerland, the UK, and the US, serving verticals like financial services, life sciences, transportation and logistics, utilities, and telecom. The Allgeier group held majority stake in iQuest Group since 2018.
Nagarro which has been operating in Romania since 2005 uses a global delivery model and has customers in areas like manufacturing, transportation and logistics, banking and insurance, automotive, digital, retail, and telecom.
After the merger, the new organisation anticipates a consolidation of the common areas of activity, and expansion in the new areas, the statement said.
“Both Nagarro and iQuest are professional services organisations with a solid culture having more similarities than differences. This outlines the advantages of our decision. Both organisations build software solutions based on a consistent understanding of customer needs and with very high versatility and added value,” Voicu Stoiciu, Managing Director of Nagarro in Romania, said.
The new organisation will be able to access markets not yet addressed by each of the two companies, he added.
Following the transaction, the combined entity will have about 815 employees, most of them coming from iQuest.
In Romania, Nagarro has about 155 employees, while iQuest – with offices in Cluj, Brasov, Bucharest, Craiova, and Sibiu – has over 660 employees.
“The transition phase will be governed by a team formed by the management of the two companies, transferring the current responsibilities to the new configuration, which involves repositioning the iQuest management in roles with global impact in the new organisation,” the statement said.
Stoiciu, who currently holds the role of Managing Director at Nagarro in Romania, will oversee the operations of the new entity formed in Romania, it added.
Source: Business-Standard