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Bulgarian software company Melon acquires 51% of Kosovo-based peer Frakton

Bulgarian software company Melon acquires 51% of Kosovo-based peer Frakton Photo: LinkedIn

SOFIA (Bulgaria), November 10 (SeeNews) - Sofia-headquartered software provider Melon said that it has signed a strategic investment deal with Kosovo-based peer Frakton on October 28 as part of the Bulgarian company's expansion into the software development talent market of Southeast Europe (SEE).

"Following a few years of exceptional performance and growth, Melon generated good momentum to accelerate its expansion effort. The company’s acclaimed excellence in managing software services from development centres in North Macedonia and Bulgaria, grants its management sound confidence that they can realise beneficial investments in the wider SEE region," Melon said in a statement on Tuesday.

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According to data available on the website of the Kosovan commercial register, Melon is now a majority shareholder in Frakton, with 51% interest. The acquired stake represents 8,774 euro ($10,148) of Frakton's registered capital.

Krum Hadjigeorgiev, CEO of Melon, said in the statement that the Kosovo software ecosystem has been in the company's focus for more than two years now. "Frakton is the gravity centre we believe is key in helping Melon build our team further and help our partners and clients in their digital transformation initiatives," he noted.

"We have been at a tremendous growing pace, while on a lookout for a partner that shares the same culture and values we do. I believe Melon is the partner that will propel our growth to markets and services we wanted to reach for years. This will lead to achieving our goal of becoming one of the biggest tech companies in Kosovo and also the best workplace for people to be part of," said in the statement Celik Nimani, CEO of Frakton, said in the statement.

Melon, established in 2003, is a privately company held with offices in Bulgaria's Sofia and Veliko Tarnovo and North Macedonia's Skopje.

Pristina-based Frakton, established in 2007, is active in creating web and mobile software solutions.

($ = 0.864807 euro)