Six outsourcing companies in CEE countries have over $200M in revenue. IT Industry Report 2020
11 March, 2021, 17:18
Investment company AVentures Capital has published its annual report on the state of the IT industry and transactions in Central and Eastern Europe, CEE Software Development M&A Report 2020. AIN.UA journalist selected the highlights from the study.
- Annual revenue growth in Ukraine, Poland, Romania, and Belarus slowed from 20-25% to 10-15% amid the pandemic but began to grow rapidly in the fourth quarter.
- The revenue of 5 CEE players out of the 50 largest IТ service companies exceeded $100 million, 6 others exceeded the mark of $200 million. Among the companies with offices in Ukraine are Epam, Luxoft, GlobalLogic, and SoftServe.
- The total volume of IT exports generated by Ukraine, Poland, Romania, and Belarus is over $18 billion.
- The total number of IT professionals in the region is over 660,000.
- The annual number of tech graduates is more than 60,000 people.
- Number of mergers and acquisitions in 2015-2020 – 137; in 2020 – 29.
Among the major deals for 2020-2021 in Ukraine are:
- Sigma Software acquired the Kharkiv-based outsourcing company IdeaSoft. According to AIN.UA, the transaction amounted to $1.5 million.
- The US company Cprime acquired the Ukrainian Archer Software. According to experts, 100% of the company could be valued at $5-8 million.
- SARS Capital invested in the outsourcing company S-PRO.
- Grid Dynamics acquired the technology company Daxx.
- IT company Ciklum raised strategic investments from the technology investment platform Recognize Partners.
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