Romania's Arctic Stream to buy 23% of Data Core Systems

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BUCHAREST (Romania), April 3 (SeeNews) - Romanian IT infrastructure and security integrator Arctic Stream [BSE:AST] said it has signed a memorandum of understanding (MoU) for the acquisition of a 23% stake in local cybersecurity company Data Core Systems.
The transaction, valued at 9.89 million lei ($2.14 million/1.99 million euro), will be settled partly in cash and partly through the issuance of Arctic Stream shares, the company said in a statement filed with the Bucharest Stock Exchange on Tuesday.
The transaction is expected to be closed in the third quarter of the year.
Established in 2012, Data Core Systems specialises in providing cybersecurity audit and consulting services, security solution integration, penetration testing, managed security services provider (MSSP) offerings, and security operation centre (SOC) services.
Arctic Stream was established in 2017 and is an IT integrator with a focus on Cisco technologies. The company has a physical presence in Bucharest and implements IT infrastructure and security projects at the national level, both through its own team and through local partnerships.
Shares of Arctic Stream traded 0.32% higher at 31 lei as of 1421 CET on Wednesday on the Bucharest bourse.
(1 euro=4.96899 lei)
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