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Switzerland-based cyber protection firm Acronis acquires Bulgaria's T-Soft

Switzerland-based cyber protection firm Acronis acquires Bulgaria's T-Soft atm2003/

SOFIA (Bulgaria), August 3 (SeeNews) - Switzerland-based software company focused on cyber protection Acronis said on Friday it has acquired Bulgarian software engineering company T-Soft.

The acquisition is a result of successful partnership between the two companies, Acronis said in a statement.

T-Soft has been providing Acronis with software development services since 2012, enhancing the quality of Acronis’ products and augmenting the effectiveness of Acronis’ engineering teams, according to the statement.

The new technology developed by the Sofia-based T-Soft will advance Acronis’ innovative solutions providing protection for all data, applications and systems.

T-Soft will change its name to Acronis Bulgaria following the deal.

Acronis also said it plans to build web and quality assurance teams in Bulgaria.

"Acronis needs more engineers to develop the innovative technologies that can satisfy the growing need for cyber protection. As part of our growth strategy, we are increasing our presence in Europe, and Sofia, Bulgaria felt like a logical step for us," Serguei Beloussov, founder and CEO of Acronis, said. "We already had a local partner with great engineers located here. We’re going to build on their success to grow our R&D activities in Europe."

Acronis plans to expand the existing team to 300 engineers, investing $50 million (43.14 million euro) over the next three years to establish a key research and development centre in Europe that is fully focused on cyber protection.

T-Soft, founded in 2005, is a software services company  providing manual and automated software testing services.

Acronis, founded in 2003 in Singapore, is active in cyber protection and hybrid cloud storage technology. Enhanced by AI-based Active Protection technology, blockchain-based authentication and hybrid-cloud architecture, Acronis protects all data in any environment, including physical, virtual, cloud, mobile workloads and applications.