SOFIA, Bulgaria - Sirma Group Holding, one of the largest software groups in Bulgaria, today announced that it has entered into a definitive agreement to acquire Sciant, a fast-growing, vertically-focused IT solutions provider based in Sofia. Sciant will officially become part of Sirma Group Holding, maintaining its mission, focus, and management team, while enjoying the support of the larger group.

"Today, the Sirma Group family has grown with another member – Sciant. Our export focus, target markets, and products and services portfolio are a perfect match,” said Tsevtan Alexiev, CEO at Sirma Group Holding. “Jointly we become stronger and more competitive.”

The acquisition is in alignment with the growth and development strategy of Sirma Group Holding, and is expected to facilitate the group’s entry into new vertical markets and geographies. Sciant will benefit from accelerated growth and investment into high-customer-demand business lines, such as managed services and bespoke SaaS.

In particular, Sciant’s well-known brand and reputation for excellence in the travel and hospitality, and transportation and logistics domains are expected to open new opportunities for Sirma. In addition to being named in the “2021 Financial Times’s 1000” list of fastest-growing companies in Europe, Sciant has top review ratings for quality on Oracle Cloud Marketplace and Clutch – a widely-known service provider rating site.

"While Sciant will operate as an independent subsidiary, joining Sirma Group Holding enhances our capability to support our customers and deliver quality solutions by gaining access to additional resources, including additional financing and a larger talent pool,” said Angel Mitev, joint-CEO at Sciant. “We are eager to grow and leverage key areas of Sciant’s expertise, such as our cross-industry expertise in dynamic pricing. In fact, more than half of the top hospitality pricing solutions and a number of major global logistics firms use Sciant’s solutions in dynamic pricing. We estimate that more than 12 billion euros per year of freight and hotel revenue in 2021 are touched by Sciant solutions.”

“Since our founding in 2016, Sciant has integrated more than 150 unique travel systems,” said Stephen Burke, CCO and practice head of travel & hospitality at Sciant. “One of our customers describes Sciant’s depth of knowledge in this area as ‘simply unmatched.’ We expect this acquisition to enable us to expand our customer footprint as well as accelerate the expansion of our managed services offerings, which continue to grow substantially with 200% year on year growth in 2021.”

As a culture- and values-driven company that takes seriously its vision to make our customers heroes and our employees superstars, the utmost consideration is being paid to ensure zero disruption for staff and customers.

"Sciant and Sirma Group Holding teams share the same culture of quality, proficiency, ownership, and transparency,” said Evlogi Georgiev, joint-CEO at Sciant. “This was a key factor in our decision to join the group of Sirma.”

About Sirma Group Holding

Sirma Group Holding JSC, established in 1992, is one of the largest software groups in Bulgaria, a pioneer in the field of artificial intelligence technologies. Sirma has a B2B focus and specializes in custom software development, IT and business consulting and professional software services in several areas - banking and insurance, market intelligence, healthcare, packaging and measurement.

The companies in the group create world-renowned software products based on semantic technologies, industrial software, applications in the field of telemedicine, cybersecurity and cloud solutions, e-government platform, e-administrative services and more. The group employs over 400 experienced software professionals who have implemented hundreds of successful projects on five continents. For more information, visit www.sirma.com

About Sciant

Sciant is an IT solutions development partner serving specific industry sectors including Travel and Hospitality, Logistics and Transport, Finance and Banking, working with both large enterprises and fast-growth startups worldwide.

Sciant develops technical solutions including big data and business intelligence, machine learning, and forms robust and compliant integrations and interfaces, for new digital platforms and legacy systems.

Established in 2016, Sciant is headquartered in Sofia, Bulgaria, with offices in Plovdiv and Yambol, Bulgaria, as well as Tirana, Albania and Olomouc, Czech Republic. For more information, visit www.sciant.com

Media Contacts:
Sirma Group Holding: Stanislav Tanushev, Director, Investor Relations, 135 Tzarigradsko Shosse, Floor 3, Sofia 1784, [email protected]

Sciant: Stephen Burke, Chief Commercial Officer, 28 Rijna 11, Olomouc, Czech Republic 779 00, [email protected], +420 776 491 795