Enterprise Investors (EI) is investing in SMT Software Services, an IT company, operating in separation from SMT SA. It is planned to combine SMT Software Services with BLStream, EI’s portfolio company, to create a new leader in the Polish software development market.
Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors (EI), has signed an agreement under which it acquires 100% of the shares of SMT Software Services. The value of this transaction is estimated at 151 million zloty.
As predicted by the firm Enterprise Investors, the end of 2015 the new entity resulting from the merger of the two companies had achieved revenues of 200 million, with a workforce of a thousand IT professionals.
This data suggests that we can expect a new leader among companies providing software development services in Poland. As Rafał Bator, partner at Enterprise Investors responsible for the investment announced: “Over the next four years we expect to double our number of IT professionals. The new entity will be characterized by high credibility needed to attract large contracts around the world. The company will also have a larger base of ambitious international projects, which is necessary to attract and retain the best employees.”
Currently, Enterprise Investors is one of the largest managers of private equity and venture capital investors in Central and Eastern Europe. In operation since 1990, it has set up eight funds which have invested more than 1.6 billion euro in 135 companies operating in various sectors and completed investments in 108 companies, yielding gross proceeds of 2.2 billion euro.
Enterprise Investors is therefore able to provide SMT Software Services with dynamic global development. So far, SMT Software Services has provided software development services in Poland, Germany and the UK. Its customer base has consisted mainly of companies operating in financial services, TMT, consulting and trade. SMT Software Services employs 700 people, working in 7 centers in Poland.
Meanwhile, its current owner – BLStream – designs and develops high-quality solutions for international customers. Its main activity is in mobile technologies that are used in the following industries: automotive, telecommunications, media and technology, and retail.
SMT Software Services and BLStream complement each other perfectly in terms of export destinations and customer base. Together they can offer much wider and more comprehensive services.