June 5 (SeeNews) - Possehl Digital, a division of Germany-based technology group Possehl, has acquired a minority stake in Croatian software developer Mono, the Croatian company said.
“While we will benefit from increased financial support and the backing of a globally renowned and prosperous group with a remarkable legacy, the authority to make decisions will still remain with our board,” the Croatian company said in a statement on Friday. It did not disclose financial details of the transaction.
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Mono was set up 20 years ago in Osijek by four co-founders - Denis Susac, Zarko Gajic, Jasmin Muharemovic, and Kristijan Horvat. Now it employs more than 150 developers, according to the company’s Linkedin profile.
Possehl is a globally active technology group with more than 13,200 employees and 200 companies in about 30 countries around the world. In 2022, the Possehl group generated consolidated sales of 5.5 billion euro ($5.9 billion), up 25% on the year, according to its website.
($ = 0.936 euro)