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TBS targets five ICT acquisitions across Romania, the UK and Sweden
Bulgarian listed ICT group TBS has approved a cross-border acquisition plan covering five companies in Romania, the UK and Sweden. The proposed transactions would total 42.3 million euro, but the targets remain unnamed and no binding commitments have yet been signed.
Telelink Business Services ©TBS
FTS Insights official • For the Bulgarian tech ecosystem, this is a notable signal of outbound M&A ambition. Rather than expanding only through organic growth, TBS is using a structured acquisition plan to extend its footprint across several European markets. That matters for Sofia and the wider regional ecosystem because it shows a listed Bulgarian tech player acting as a cross-border consolidator in ICT services.
Key Takeaways
- TBS is pursuing expansion beyond Bulgaria through acquisitions rather than only internal growth.
- The target profile points to a practical focus on ICT services and systems-related delivery.
- The payment structure combines upfront consideration with deferred performance-linked elements.
- This remains an announced plan, with target identities and final deal terms still undisclosed.
Why this matters
- It shows a Bulgarian listed tech company using M&A to scale across multiple European markets at once.
- Romania is central to the deal set, underlining its weight in regional tech and services expansion.
- The targets add service capabilities tied to ICT resale, implementation and maintenance, not just geography.
- The non-binding status is important: the strategy is clear, but execution risk remains high until signing.
ORIGINAL ARTICLE
May 22, 2026
Bulgaria's TBS plans to buy 5 firms in UK, Romania, Sweden for 42.3 mln euro
by Georgi Kumanov
Article Summary
TBS Group said its supervisory board has approved the planned acquisition of majority stakes in five companies operating in information and communication technologies. The target set includes three companies in Romania, one in the UK and one in Sweden.
According to the announcement, TBS plans to buy 100% of the UK company, up to 51% of the Swedish company, and 100% of three Romanian companies under common control. The five businesses are active in product resale and in consulting, implementation and maintenance services for ICT systems.
The reported total consideration is 42.3 million euro. Of that amount, 33.6 million euro is expected to be paid upfront by the end of 2026, while the rest would be paid conditionally in 2027-2029. TBS said the final amounts may still be adjusted based on closing-date financial results and other terms to be defined in definitive share purchase agreements.
The company also noted that none of the counterparties has made binding commitments for the signing and implementation of the transactions at this stage. In 2025, the five target companies generated combined revenue of 28.8 million euro and EBITDA of 4.7 million euro.
Key Highlights
- TBS approved a plan to acquire stakes in five ICT companies for 42.3 million euro.
- The targets are located in Romania, the UK and Sweden, with Romania accounting for three of the five firms.
- The structure includes full ownership in the UK and Romanian targets, and up to 51% in the Swedish company.
- The five companies reported 28.8 million euro in revenue and 4.7 million euro in EBITDA in 2025.
- Most of the consideration would be paid by end-2026, with deferred conditional payments through 2029.
Takeaway
The immediate signal is not a completed transaction but a clear strategic direction. TBS is positioning itself for broader European reach, and the next real test will be whether these proposed deals move from approval to execution.
Read the full coverage on SeeNews(en)
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SeeNews / Bulgarian listed ICT group TBS has approved a cross-border acquisition plan covering five companies in Romania, the UK and Sweden. The proposed transactions would total 42.3 million euro, but the targets remain unnamed and no binding commitments have yet been signed.