January 16 (SeeNews) - Croatian software company Neos said it bought local peer SV Group last month, following the acquisition of another local IT company, Inovativni Trendovi, in October.
“The integration between the three Croatian IT companies, Neos, SV Group and Inovativni Trendovi, which started in May and October 2022 respectively, was completed on December 29, 2022 with Neos’ acquisition of the two companies,” Neos said in a press release on its website. It did not disclose financial details of the deals.
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The consolidation of three companies, which provide solutions and services to companies whose activities are dependent on IT technologies and solutions that directly support their business, has produced a strong IT regional leader with over 150 certified consultants and 400+ successfully executed projects in the EMEA region, it added.
Neos is providing business solutions and services covering advanced analytics, software engineering and cloud and system infrastructure integration on Oracle and other platforms. SV Group is providing extensive expertise of the IBM technology platform with specific specialisations and knowledge, while Inovativni Trendovi is contributing knowledge of Java, Spring and Kafka technologies.
“As the result of the acquisition, Neos has adopted SV Group’s status as an authorised and certified Business Partner Solution Provider in Croatia. By integrating the IBM Platinum Business Partner status with the existing status as the leading partner in the region, Neos will deliver stability and growth through combined expertise and competencies to clients in the finance, insurance, telecommunication and public sectors,” according to the press release.
In October 2021, Croatian fund manager Prosperus Invest financed, through its fund Prosperus Growth, an undisclosed investment in Neos.
According to data from the Croatian court registry, SV Group is owned by management company Prosperus Growth 1, a subsidiary of Prosperus Invest, and SV Group was merged to Neos based on a deal signed in December 21, 2022.