April 26 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SGH] said on Wednesday it has established a subsidiary in Sweden with the aim of tapping into Nordic, BENELUX and DACH markets.
Stockholm-based Sirma AB will offer the full range of the Bulgarian group's products and services on markets in Scandinavia, the Benelux countries as well as German-speaking countries in Europe, or Germany, Austria and Switzerland, Sirma Group Holding said.
The new subsidiary will be headed by a local manager and will have three staff in charge of business development, the Bulgarian group added.
Earlier this month, Sirma Group Holding acquired the remaining 22.20% equity stake it did not own in local peer Sciant, a provider of big data, machine learning, business intelligence and blockchain services to clients in the travel and hospitality, logistics and transport, and finance and banking sectors.
Sirma Group Holding has seen its stock value rise close to 31% in the past few months and now has a market capitalisation of some 38 million levs ($21.5 million/19.4 million euro), bourse data show. The stock closed unchanged at 0.64 levs per share on the Sofia bourse on Tuesday.
In 2022, Sirma Group Holding swung to a consolidated net loss of 8.1 million levs, after booking a profit of 4.45 million levs a year earlier. Sirma Group has eight direct wholly- or majority-owned subsidiaries, and indirectly owns another 11 businesses, including in the US, Latin America and Germany.
(1 euro = 1.95583 levs)