Romanian Software Co TotalSoft To Expand to Hungary, Bulgaria in 2009 – Media

"We expect a turnover of one million euro in the first year of operations in Hungary. We already sell the Primavera software there and also plan to start selling the Charisma software for construction companies as well as for the lending and leasing sectors," the daily quoted TotalSoft director general Liviu Dragan as saying.

The markets in Bulgaria, Hungary and Serbia have a good sales growth potential in terms of software solutions for the financial and construction sectors, Dragan said.

The TotalSoft office in Serbia is currently inoperational.

The company expects that the share of exports in total sales will grow to 40% in 2010 from 20% this year, the daily reported.

TotalSoft projects a 30% rise of its turnover this year to 16.5 million euro ($23 million). Its first-half turnover grew by an annual 20% to 8.4 million euro.

The company is 80%-owned by Greek investment fund Global Finance. Liviu Dragan owns the remaining equity.

($=0.724 euro)