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Bulgaria's Sirma Group Holding seeks antitrust nod to acquire local Sciant

Bulgaria's Sirma Group Holding seeks antitrust nod to acquire local Sciant Author: Rachel Johnson.

SOFIA (Bulgaria), October 15 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SGH] is seeking the approval of the Commission for Protection of Competition (CPC) to acquire local peer Sciant, the antitrust body said on Friday.

According to a notice submitted to the competition regulator, the transaction could affect the local markets for IT services and business software, the CPC said.

Interested parties have until October 22 to file with the regulator their statements regarding the deal.

Sciant's activity is mainly focused on the development and export of software products and services to countries inside and outside the EU - Germany, Austria, the Netherlands, the U.K., Australia, the USA, Singapore, the regulator said.

Sofia-based Sirma Group Holding, established in 1992, is one of the largest privately-owned Bulgarian IT groups. Sirma specialises in IT technologies and software development, ‌implementation, and system integration. The company accomplished a successful initial public offering in 2015 and was listed on the Bulgarian Stock Exchange (BSE).

As at 11:00 CET on Friday, shares in Sirma Group Holding traded flat at a price of 0.48 levs ($0.28/0.24 euro) on the floor of the BSE.

(1 euro = 1.95583 levs)

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