SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Bulgaria's Bianor closes buy of GoToAdmins

Dec 13, 2023, 12:11:48 PMArticle by Antonia Kokalova-Gray
share
December 13 (SeeNews) - Bulgarian software and IT services group Bianor Holding [BUL:BNR] said on Wednesday that it finalised the acquisition of full ownership of local IT infrastructure provider GoToAdmins Group.

Bulgaria's Bianor closes buy of GoToAdmins
Photo: Bianor Holding

Bianor acquired the company in full following a deal in September, it said in a bourse filing without disclosing financial terms. The initial transaction saw the target company's two owners retain sizeable undisclosed stakes in GoToAdmins. The acquisition of the Sofia-based provider of personalised cloud infrastructure management services and DevOps methodologies will broaden Bianor's range of services on offer into a much sought-after area, Bianor said at the time.

Bianor, which has been on a deal spree in the past year, earlier this week announced the acquisition of local software company Bulbera, its fourth transaction in 2023.

In October, the company issued new shares, increasing its capital to some 6.88 million levs ($3.8 million/3.5 million euro) from 1.15 million levs. Earlier this year, the holding announced its subsidiary Bianor Services will work on three new defence projects approved by the European Defence Fund (EDF).

Shares in Bianor closed 8.10% higher at 4.00 levs in its most recent trading session on the Bulgarian Stock Exchange on Tuesday.

(1 euro = 1.95583 levs)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.