ScaleFocus, one of the largest Bulgaria-based professional technology services and software engineering companies, has acquired Upnetix – one of the 50 world-wide certified Google-development agencies. Following the deal, Scale Focus will add 120 professionals to its personnel, making the total number of employees around 600. The company has the ambition to be among the most recognized European digital transformation agencies, providing end-to-end consultancy, backed-up by exceptional technical talent and strong leadership.
Upnetix is a leading provider of custom software solutions based in Sofia, Bulgaria. The company was named by ICT top 100 rank list among the fastest growing in the outsourcing sector for 2017 and 2018, with revenues of €2.45 million and EBIT amounting to €100 thousand in 2017. Radoslav Gaydarski, CEO of the company commented on the deal:
Having in mind our almost identical core values and mission, bringing Upnetix under the ScaleFocus umbrella was a logical next step for both companies. Being able to utilize the synergies offered by this acquisition, Upnetix will be enabled to achieve even higher growth rates, expand our client reach well ahead of even our most aggressive forecasts and remain focused on our core competencies. To put it in simple words – we are excited to be here today!
ScaleFocus was founded in 2012 in Sofia, now operating offices in London, Munich, Zurich, Washington DC, Plovdiv, and Burgas. The company provides a wide range of software services to its customers in North America and Western Europe, registering revenues in excess of €13 million and EBIT amounting to €1,1 mln. in 2017.
