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Bulgaria's Speedy acquires OMG Mobile for 2 mln euro

Author Mario Tanev
Bulgaria's Speedy acquires OMG Mobile for 2 mln euro Author: Speedy. Licence: All Rights Reserved.

SOFIA (Bulgaria), January 4 (SeeNews) - Bulgarian express delivery company Speedy [BUL:0SP] said that it has completed the acquisition of 100% of software developer OMG Mobile for 2 million euro ($2.3 million).

Speedy agreed in December to acquire OMG Mobile, which has been developing software for the delivery company since 2012, Speedy said in a bourse filing on Thursday.

Speedy will pay the 2 million euro within five years, however, 75% of the total price is conditional upon OMG Mobile keeping its key developers within that period.

In 2015-2017 OMG Mobile developed software solutions servicing Speedy's operations in Bulgaria, Romania and Greece.

Last year, Speedy acquired 100% in local peer Rapido Express and Logistics.

($ = 0.8763 euro)