GlobalLogic, a Hitachi Group company, has acquired Fortech, a software engineering services company based in Romania. Financial terms of the deal were not disclosed.
This is technology M&A deal number 992 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Hitachi Unit GlobalLogic Acquires Fortech
GlobalLogic, founded in YEAR, is based in San Jose, California. The company has 20,408 employees listed on LinkedIn. GlobalLogic’s areas of expertise include full-lifecycle product development services, user experience design, product design, content engineering, product research & ideation, sustainable engineering, product engineering, product testing & quality assurance and product replatforming.
Fortech, founded in 2003, is based in Cluj-Napoca, Romania. The company has 1,100 employees listed on LinkedIn. Fortech’s areas of expertise include digital engineering services, architecture design, software development, DevOps, quality assurance and data analytics. Fortech’s domain expertise includes automotive, banking/finance, healthcare, manufacturing, professional services and technology/media/telecom.
GlobalLogic’s investment in Fortech is part of a multi-year strategy designed to establish a wider European footprint and improve worldwide services delivery capabilities, the companies said. Fortech will continue to operate with its existing leadership and staff as a wholly owned subsidiary of GlobalLogic.
GlobalLogic and Fortech: Executive Perspectives
Nitesh Banga, president and CEO, GlobalLogic
Calin Vaduva, CEO, Fortech
Nitesh Banga, president and CEO, GlobalLogic, commented on the news:
“Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution. This acquisition will further enhance GlobalLogic’s presence in Europe, and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong backing of GlobalLogic and Hitachi. We are excited to welcome Fortech and their talented people to the GlobalLogic family.”
Calin Vaduva, CEO, Fortech, added:
“We’re proud of our legacy, which is based on helping companies realize the power of transformative digital solutions. Joining forces with GlobalLogic, backed by Hitachi, takes our reach to a whole new level. Additionally, finding a partner that shares our cultural values with a strong emphasis on people, customers, and societal benefit is extremely gratifying.”
Hitachi and GlobalLogic
Hitachi has owned GlobalLogic since 2021 after buying it from private equity firm Partners Group for $9.6 billion. In September 2022, Hitachi reorganized its cybersecurity and MSSP businesses to bolster its managed security services for global markets.
