Sofia, Bulgaria, October 23, 2024 – Sirma Group Holding JSC, a leading Bulgarian software group, today completed the purchase of a 51% stake in Romanian IT company Roweb Development SA after receiving the necessary regulatory approvals. With this acquisition, Roweb Development SA officially becomes part of Sirma Group. This strategic move strengthens Sirma Group’s regional presence and complements its existing portfolio of IT services.
Roweb Development, a renowned software development house with offices in Bucharest, Pitesti, Craiova, and London, specializes in creating complex business applications for the financial, insurance, real estate, recruiting, and hospitality sectors. With over 140 employees, Roweb brings a wealth of expertise and a strong track record of delivering successful projects.
Tsvetan Alexiev, CEO of Sirma Group Holding JSC, stated, “We are excited to welcome Roweb into the Sirma Group family. Their deep expertise in financial services, real estate, recruiting, and talent management aligns perfectly with our strategic goals. By combining our strengths, we can offer our clients even more comprehensive software development solutions.”
Viorel Costea, CEO of Roweb Development SA, added, “Joining Sirma Group is a significant milestone for Roweb. We have always been committed to partnering with dynamic companies that share our passion for innovation and excellence. Sirma Group’s global reach and strong reputation will enable us to scale our operations and deliver even greater value to our clients.”
The acquisition of Roweb Development is expected to drive revenue growth for Sirma Group and enhance its market position in Romania, the EU and North America.
We are very grateful to the Capital Times team, which presented Roweb Development (Romania) as one of Sirma Group’s potential targets and helped us in the negotiations.
About Sirma
Established in 1992, Sirma Group Holding JSC is 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 700 experienced software specialists who have developed and implemented hundreds of successful projects worldwide.
About Roweb
Roweb Development SA is a Romanian software development house established in 2004. The company operates from three offices in Romania, and its development team of 140+ experienced software professionals has implemented projects for clients in 30+ countries. Based on a dedicated team model, Roweb develops scalable business applications delivered via web, desktop, and mobile channels, focusing on user experience, high availability and security for several key clients in well-established and profitable industries.
