December 1 (SeeNews) - Southeast Europe-focused private equity firm Olympia Capital Partners (OCP) announced a strategic investment in the US- and the Netherlands-based IT company Maestral Solutions and its Bosnian peer Mistral.
Following the transaction, the two companies will further integrate their activities, OCP said in a statement on Monday.
"The IT market in SEE is highly fragmented and the combined group will serve as a platform for future acquisitions in the region as we look to consolidate the market," OCP co-founder and CEO, Nedim Music, said in the statement.
"We have been watching and admiring the success of these two companies for several years. Their ability to build a global product development platform without outside investment is nothing short of exceptional," Music added.
The combined group will be headquartered in Amsterdam. Maestral has offices in Atlanta and Amsterdam, while Mistral has offices in Sarajevo and Mostar.
Maestral and Mistral together employ over 200 IT professionals in Europe and the U.S. Both companies operate a product development as a service model, participating across the full software development cycle for global blue-chip, mid-size and startup clients, according to the statement.
OCP is based in Amsterdam and Sarajevo. It was established by a group of investment banking professionals, private equity executives, entrepreneurs and industry executives with the vision to create the preeminent investment banking and investment management business in Southeast Europe, according to data published on the website of OCP.