ARICOMA Group and Musala Soft announce a deal for the acquisition of Musala Soft. ARICOMA Group, part of KKCG is a fast-growing European NextGen IT services provider. This investment is another key step in ARICOMA’s strategic development.
With Musala Soft, the ARICOMA Group will comprise of 10 technology companies with a consolidated turnover exceeding EUR 400 million, an EBITDA of EUR 39 million and 4000+ professionals.
“With Musala Soft onboard, we are becoming a leader in custom software development from South-eastern Europe. Musala is a natural fit for ARICOMA on our path to become a European leader, and we’re excited to work together. Its innovative culture and amazing people will further bolster our internal talent as well as market potential. The leadership team has a legacy of growing the business with client focus and a problem-solving approach. We believe that Musala will thrive as part of ARICOMA and we will jointly accelerate our long-term growth and value creation plans,” says Ludovic Gaudé, CEO of ARICOMA Digital.
“We are eager to enter a new faster chapter of our development by joining forces with ARICOMA and KKCG. The synergy with both the overlapping and complementary client base and expertise of ARICOMA gives us confidence and fuels the exciting journey ahead. Of course, we will also keep and expand together our dedication to the development of the IT community, business climate, IT education, science, innovation, and inspiring young talent,” says Elena Marinova, President and Chair of the Board of Musala Soft.
“I am delighted that we managed to reach an agreement with Musala. This is our second acquisition this year and it fits in line with our strategy to turn ARICOMA into a significant player in Europe. Musala has an exciting portfolio of clients, which will boost our Telco, Finance, and Automotive verticals. Even in these challenging times the IT sector continues to grow and increase in relevance and we remain optimistic about the industry’s potential in the long-term,” adds Michal Tománek, Investment Director at KKCG, the investment company behind ARICOMA Group.
The deal signed by the owners of Musala Soft and the ARICOMA Group is for the sale of a 100% share in the company. The full Musala Soft management team will stay on board in the long term and will actively participate in building ARICOMA’s future. The transaction is still subject to approval of the respective anti-monopoly offices and is expected to close in Q4 this year.
CMS Cameron McKenna acted as Legal Advisor and Deepak Bhandari from Marylebone Capital Advisors Private Limited acted as Financial Advisor to Musala Soft.
Musala Soft builds future generation software products and enterprise solutions for impactful organizations around the globe. The company is provider of high-end software engineering services in AI, Big Data, IoT, Analytics, Cloud, and Integration. Musala Soft professional team covers with expertise and creativity all elements of the software life cycle. Musala Soft clients are challenging, innovative and trendsetting enterprises in IT, Telecom, Finance and Automotive devoted to stability and growth, daring to pioneer new ideas and build the future. Among them are IBM, SAP, VMware, Deutsche Telecom, A1, Generali, Canaccord, Experian, Procredit Bank, PTV Group, EDAG, Bosch, KPMG, PerkinElmer, Siemens Energy, and the Financial Times. Musala Soft was founded in 2000 and has its headquarters in Bulgaria with a team of 750 employees from 10+ nationalities located in Bulgaria, North Macedonia, Egypt, Albania and Kosovo. Musala Soft is the proud winner of multiple national and international honours and recognitions in Talent Development, Science and Innovation, Quality of Software Solutions, Leadership and Corporate Social Responsibility.
ARICOMA Group is a leading Central European IT Services provider with a significant Scandinavian presence providing services to 1000+ clients in 15 markets from its 8 Europe-based delivery centres. ARICOMA’s focus is to help both private- and public-sector clients navigate the ever-changing demands, risks, and business opportunities. Through its portfolio companies, it provides end-to-end digital transformation solutions, including UX design and consulting, custom software development, IT infrastructure and IT operations management, cloud operations, and cloud security services. Notable members of ARICOMA Group include Sweden- and CEE-based custom software developer Seavus, Sweden-based software developer Stratiteq, Czechia- and Slovakia-based system integrator AUTOCONT, custom software developers Cleverlance Enterprise Solutions and KOMIX, cybersecurity services specialist AEC, and government digital transformation specialist CESEA.
KKCG, managed by Karel Komárek, one of the most successful Czech entrepreneurs, is an international investment company with a total value of more than €9bn. KKCG develops its business activities in thirty-three countries around the world and its key fields include the entertainment industry, the energy industry, IT technologies, and real estate. It holds shares in many leading companies, including Allwyn (lotteries and gaming), ARICOMA Group (IT), MND Group (energy), KKCG Real Estate Group, and Springtide Ventures (venture capital fund with investments in European and Israeli IT start-ups).
Karel Komárek Family Foundation supports a diverse range of projects, such as the construction of the REACH - a new building in the John F. Kennedy Center for the Performing Arts, support for Ukrainian people right after the war broke out and Ukrainian refugees in the Czech Republic, the restoration of South Moravia, which was damaged by the tornado in 2021, and many Czech cultural heritage projects, including the flagship Dvořák Prague International Music festival.