March 31 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SGH] said that its subsidiary Sirma Solutions has finalised the disposal of a 23.80% equity stake in semantic technology unit Sirma AI for 9.46 million euro ($10.3 million).
Under the deal, the European Bank for Reconstruction and Development (EBRD) acquired the bulk of the ordinary shares in the target company, or some 1.18 million, for 6.96 million euro, as well as 226,974 class A shares, Sirma Group Holding said in a bourse filing on Thursday.
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Hungarian company OTX-Partner Korlatolf Felelossegu Tarsasag bought 338,946 ordinary shares and 65,201 Class A shares in Sirma AI for 2 million euro. Sirma Group Holding board member Atanas Kiryakov purchased the remaining 84,905 ordinary shares and 16,333 Class A shares in Sirma AI for 500,000 euro.
Sirma Group Holding shareholders approved the sale of the minority stake in Sirma AI, trading as Ontotext, in February.
In September last year, Sirma Group sold a 76.20% stake in Sirma AI to Luxembourg-based New Frontier Technology Invest SARL, part of investment firm Integral Venture Partners. The price of the deal was 19.5 million euro, of which Sirma Group received 6.6 million euro. Sirma Solutions retained the balance of 23.80% in the target company.
Sirma AI provides artificial intelligence-driven technology services for clients such as S&P Global, the Financial Times, Johnson Controls, automobile conglomerate Stellantis, BBC and the British parliament.
($ = 0.9180 euro)