CMS advises Alten Group on the acquisition of Qualitance QBS. Horea Popescu, managing partner of CMS Romania: We continue to see a strong appetite for deals in the TMT sector

International law firm CMS has advised top multinational technology consulting and engineering company Alten Group (“Alten”) on its strategic acquisition of Romanian-based international technology and innovation company Qualitance QBS S.A. (“Qualitance”).

With an international team of over 45,000 employees and offices in 30 countries, including Romania, Alten develops digital transformation projects on multiple business verticals for leading companies in aeronautics, defence, security, automotive, energy, financial, retail, and telecommunications.

CMS advised Alten on all Romanian aspects of the transaction, including due-diligence, structuring, negotiations of transaction documents and merger filing, and will continue to assist on closing and post-closing matters.

The transaction is expected to close by the end of 2022 and is subject to regulatory clearances.

Horea Popescu, managing partner of CMS Romania and Head of CEE Corporate M&A, said, “We are delighted to have advised longstanding client Alten on this strategic acquisition in the Romanian IT sector, which serves to reinforce their presence on the local market. We continue to see a strong appetite for deals in the TMT sector, with many considering acquisitions in the context of favourable valuations and expect that such projects will become increasingly common in the next few years, in Romania and the CEE region.”

The multidisciplinary CMS team advising Alten was led by Horea Popescu and Mircea Moraru (Corporate and M&A), and included Claudia Nagy, Claudia Popescu, Raluca Ionescu, and Catalin Vasile (Corporate and M&A); Roxana Popel and Andrei Tercu (Tax).