Euroweb on acquisition trail

22 May 2015

The CEO of enterprise-focused broadband operator Euroweb Romania – a subsidiary of Turk Telekom – has indicated that the company is looking to acquire smaller rivals this year as part of its growth strategy. Nazmi Boluk Caglar was quoted by Romanian publication Computerworld as saying: ‘We are interested this year in inorganic growth to improve product and service portfolio,’ while adding: ‘We continue to improve our network and will invest this year about 10%-12% of revenue. Starting this year, we will launch new products and services which will complement our offer. We intend to [expand in the] IT sector by launching data security services. We see great growth potential in the segment of medium and large companies, who require more complex solutions and a stable and reliable partner. Also in the next period we will focus on cloud services by product type, data centre and data security solutions.’

Euroweb has over 1,000 client companies which it serves via four regional centres (Bucharest, Timisoara, Cluj and Iasi) with 85 employees, while it reported annual turnover in 2013 of EUR9.5 million (USD13.1 million), up from EUR8.7 million in 2012. Owner Turk Telekom was previously reported to be aiming to double Euroweb’s subscriber base to 2,000 ‘by 2014’ (unconfirmed).

Romania, Euroweb (Romania)