Romanian IT Service Co Asesoft Takes Over Media Group Realitatea Media Mgmt

Romanian IT service provider Asesoft took over the management of media group Realitatea Media, owned by Sorin Ovidiu Vintu, and plans to invest EUR75 million in the business in the next five years.

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Asesoft said in a press release Monday it will ensure both the funds and the expertise so that Realitatea Media can switch to high-definition broadcasting.

"Asesoft is confident that the EUR75 million investment it will make in the next five years in modernizing and developing Realitatea Media's international operations will generate a profit rate of about 35%," said the press release.

IT&C group Asesoft is owned by Sebastian Ghita and the group's key company is Asesoft Distribution, which posted a turnover of about EUR100 million in 2009.

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