Bulgarian IT company Evolink absorbs wholly-owned unit Lirex Net

Starting from the beginning of 2020, all Lirex Net activities will be taken over by Evolink, with the process of integration expected to be very short due to the close interaction between the two companies up to this moment, Evolink said in a statement on Monday.

"By integrating the activities of Lirex Net, Evolink AD expands the company's scope and market presence and adds experience and competencies to the team," Evolink explained.

Through the merger with its subsidiary Evolink achieves a greater synergy of resources and assets, while maintaining the focus of its activities entirely on business customers with high requirements for quality of services.

Following the successful completion of the deal, Lirex Net has ceased to exist as a separate legal entity. Its parent company will not increase its capital as a result of the merger, according to commercial register data published in October.

Sofia-based Evolink is only focused on serving corporate customers and telecom operators. The company operates two data centres in Sofia, according to information published on its website.

Lirex Net is one of the first internet service providers in Bulgaria, Evolink noted in its statement.