Upon successfully completing the acquisition process, RoWebDevelopment SRL will officially become a member of the Sirma Group family. This acquisition will increase Sirma Group's revenues from sales in Romania and the Western hemisphere while complementing the Group's IT services portfolio.
“Roweb and Sirma join forces to provide complete software development services using proven and flexible team augmentation and fully managed outsourcing models. Both companies have accumulated considerable expertise in the financial services industry and have identified significant synergies in new verticals - real estate, recruiting and talent management and hospitality", said Tsvetan Alexiev, CEO of Sirma Group Holding JSC.
Viorel Costea, CEO of Roweb Development SRL, shared, „Roweb is a software development company with a strong track record of successfully delivering complex projects to clients across Western Europe and North America. Our approach has always been to partner with high growth companies and getting fully integrated in their value chain while overdelivering year after year consistently. We are excited to become part of the Sirma Group family and we see this as the next logical step in in consolidating and expanding on two decades of success and consistent growth.”
According to Sirma Group Holding's updated corporate strategy, the acquisition is expected to facilitate the Group's entry into two new vertical markets and geographies. The next acquisition is expected to be from the Nordics region. Sirma has already started initial due diligence.
About Sirma Group Holding
Established in 1992, Sirma Group Holding JSC is one of the largest software groups in Bulgaria and a pioneer in artificial intelligence technologies. Sirma specialises in custom software development, IT and business consulting, and professional software services in banking and insurance, market intelligence, healthcare, packaging, and measurement.
The Group's companies create world-renowned software products based on semantic technologies, industrial software, applications in telemedicine, cybersecurity and cloud solutions, e-commerce, and more. Sirma employs over 600 experienced software specialists who have developed and implemented hundreds of successful projects worldwide.
RoWeb Development SRL is a Romanian software development house established in 2004. The company operates from three offices in Romania and its development team of 110+ experienced software professionals has implemented projects for clients in 30+ countries. Based on a dedicated team model, Roweb Development SRL develops scalable business applications delivered via web, desktop, and mobile channels and focusing on user experience, high availability and security, for a number of key clients in well establised and profitable industries.
Investor Relations Director
Jun 28, 2024
