19 May '22
20 May '22
Igor Borovikov, Founder and Chairman of the Board of Directors of Softline Group, said: “Our three-dimensional growth strategy aimed at expanding the geographical presence, portfolio of solutions and services, as well as strengthening the sales channel, is implemented through mergers and acquisitions. We promised our new investors that we would invest most of the $400 million raised in the IPO into strategic and targeted mergers and acquisitions at favorable multiples. With this acquisition, we are strengthening our service capabilities by adding hundreds of software engineers to Softline, in addition to our existing team of more than 1,000 software specialists. Together with the team that will join us through the recently announced deal with SoftClub, our total number of software engineers will reach approximately 2,500 people, which means that we have reached 50% of our plan of 5,000 software engineers soon”.
Sergey Chernovolenko, Global CEO of Softline, said: “For many of the companies we face, innovation and improvement plans depend entirely on software development, engineering, and application modernization. That is why the acquisition of MMTR Technology is so important – it allows us to mobilize a talented software development team, and also gives us additional tools and training solutions to further expand the capabilities and scope of Softline's overall software development offering. We view this acquisition as a powerful growth catalyst in line with our ambitious plans for 2022 and beyond.”
Roman Smirnov, CEO of MMTR technology, said: “We are very pleased to join the Softline team at such an interesting time, and I believe that our team will bring a lot of new things and help the company achieve its growth and development goals. The demand for application development, modernization and testing competencies is greater than ever in the world, and we are well positioned to take advantage of this.”