Radu Georgescu strikes his second deal with an IT giant

A consortium of seen investors, which includes an investment fund financed by the American giant Cisco – the leading supplier of networking equipment worldwide – has acquired 11.7% of the shares of Romanian software producer Gecad Technologies, held by businessman Radu Georgescu. The company’s main asset is a messaging solution, called Axigen, which has 9,000 corporate clients throughout the world. The value of the transaction was 2 million euros, and it was performed through a capital increase, putting the company’s value at 17 million euros. The consortium could acquire further stakes in the company within the next few years. Axigen intends to float on the Stock Exchange, most likely in Bucharest, in two years at most. The funds, which have become shareholders in the company are Global Finance and 3TS-Cisco Growth Fund III, as well as private investors from the United States and Western Europe, whose identity has not been revealed. Greek fund Global Finance also owns shares in Totalsoft, a local software producer. Radu Georgescu became famous after selling the RAV (Romanian Antivirus) technology in 2003 to another American IT giant – Microsoft, the leading software producer worldwide.