“Fortech is a leading firm with a proven track record and specialization in the technologies needed for digital evolution. This acquisition will further strengthen GlobalLogic’s presence in Europe and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong support of GlobalLogic and Hitachi. We are excited to welcome Fortech and their talented people to the GlobalLogic family.”

, said Nitesh Banga, President and CEO of GlobalLogic.

GlobalLogic’s investment in Fortech is part of a multi-year strategy aimed at establishing a broader European market while enabling it to better serve its customers around the world from a delivery perspective. This acquisition will further enable GlobalLogic to leverage Hitachi’s strengths in information technology (IT), operational technology (OT) and products, and accelerate its growth by supporting the expansion of the Lumada business.

Terms of the deal were not disclosed. Under the agreement, Fortech will continue to operate with its existing management and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approvals and is expected to close by the end of the calendar fourth quarter of 2022.

Founded in 2006, SFL has become one of Armenia’s foremost engineering companies by providing best-of-breed IT solutions to global clients across industries. Focusing on IT strategy and full-cycle software development, SFL develops solutions based on market knowledge, in-depth technology expertise, and high methodological competence. SFL has an exceptionally strong technical team in Yerevan and a well-earned reputation for high-quality service and sharp delivery. According to Eugene Goland, President of DataArt:

“We are pleased to welcome SFL to the DataArt family. By uniting our teams in Yerevan, we are creating the strongest IT team in the region, with unique corporate culture and endless opportunities for career growth. The merger with SFL reinforces our commitment to investing in Armenia, strengthen our team and enhance client service.”

By leveraging the expertise of SFL’s team, DataArt can fulfil ambitions for growth while offering the incoming team access to significant, large scale transformation projects.

DataArt will continue to serve existing SFL clients, primarily in the US and Europe. Arsen Gevorgyan, CEO of SFL, also commented:

“We’re excited to join forces with DataArt, as their business model is compatible with our company culture and values. With the company’s impressive history of growth, we can now provide even more value for our clients by tapping into DataArt’s resource pool in a number of countries.”

The transaction is subject to regulatory approval and is expected to close in Q3 of 2021. The financial terms of the deal have not been disclosed.