GetSwift secures a majority stake in Serbian ITC company Logo

GetSwift, a leader in delivery management automation, has recently announced the acquisition of a majority stake in Logo d.o.o. This has led to the formation of a combined company, offering a blend of technical services and SaaS logistics, which consists of nearly 200 staff.
GetSwift's position as a major stakeholder entails an acquisition consideration of EUR 5.5 Mn in cash, under agreement terms. GetSwift will fund the required capital from its balance sheet, with Dentons acting as the legal advisor. The deal is not subject to any financing condition.
Parallel to the transaction, in response to requests from Logo's shareholders, Bane Hunter GetSwift Chief Executive Officer, has become Chairman of Logo's Supervisory Board, whereas COO Robert Bardunias, has been appointed as VC (Vice Chairman) of Logo's Supervisory Board.
Being a major shareholder in Logo, GetSwift will extend its business offerings to clients across different functional areas. These areas include data centers, Infosec, and communications infrastructure, among others. This expansion will position the joint company as a one-stop shop, allowing GetSwift to collaborate with larger enterprise clients to expand its global footprint.
For the record, GetSwift and Logo are currently serving common partners and clients, including multinational firms across a vast range of industries. GetSwift is an emerging company with high focus on growth. Various enterprises, businesses, and industries rely on this New York-based company's SaaS platform to bring accountability, efficiency, visibility, and saving to their "Last Mile" operations as well as supply chain.
Founded in the year 1990, Logo has formed a track record of information and communications technology services offered to a wide range of government and enterprise clients. Logo's main functional areas include Infosec and infrastructure safety systems, data centers, network and communication systems, building automation systems, and telecommunications infrastructure.
Source credit:https://business.financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/getswift-acquires-majority-stake-in-european-information-and-communications-technology-firm-logo-d-o-o

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