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Intersog Announces Acquisition of SoftTechnics
One of Chicago’s Top Mobile Apps Developers 2014 acquires Ukrainian innovative IT company for USD 2.5 million in cash and stock.
The acquisition is expected to boost the efficiency of all software development activities as well as give new momentum to the Ukrainian apps and games development market. Some of the top priorities of this new venture will be:
enhanced support of the local games and mobile development communities in Kyiv and Odessa, and
new IT education and knowledge sharing initiatives.
Commenting on the deal, Igor Fedulov, CEO of Intersog, said:
“As a result of this deal, Intersog will be able to implement our strategic growth plans faster and much more effectively. We’ve been in software development business for almost 10 years now, and have established our brand as a reliable software development partner and a caring employer both in Chicago where we’re headquartered, and in Ukraine, where we currently run two R&D centers. By acquiring SoftTechnics, we gain access to additional European markets, add a highly competent mobile development team to our in-house capabilities, and expand significantly our current client base”.
Alexei Lupanov, CEO of SoftTechnics, added:
“This acquisition puts an end to harmful practices such as “IT personnel hunting”, “salary races”, and price hypes. This crucial step delivers a unique value for our clients. We do a level-up on every aspect of our work, offer a wider range of services to a wider range of customers across the world. Ultimately, it’s the clients who win big”.
More information, including new locations and business focus, is expected to be released by mid-June 2014.