SoftServe acquires Hoverstate, an IT company with offices in the US and Italy. The amount of the deal can reach $18M

SoftServe, one of the largest IT companies in Ukraine, has acquired Hoverstate that specializes in a full-cycle mobile and a web development. Rob Faver, Hoverstate’s CSO and Managing Partner, and Kyung Ahn, CIO and Managing Partner, will join SoftServe.

  • Hoverstate focuses on creating digital strategies, mobile apps, web development with deep expertise in health insurance, pharmaceuticals, life sciences. One of the main directions are AppDev, Service Design/CX/UX, UI, DevOps and Infrastructure, Big Data, AI/ML, RPA, in the fields of healthcare, media, education, financial services.
  • The company has expertise in process automation and is a key partner of Pega, a well-known low code platform. Such expertise will strengthen SoftServe’s offering on the global market: the company’s clients will now have access to accelerated cloud-based processes and efficient development with the help of data and analytics, artificial intelligence, and machine learning.
  • Hoverstate has offices in the US and Italy.

According to AIN.Capital, the value of the deal can range from $12 million to $18 million. This information is based on available indicators on the number of employees, investments, and information on the deal, which the editors managed to find. The activity of growth in the last 3 years and the dynamics of financial indicators can affect on the assessment, but the editors of AIN.Capital could not find these data.

“We made the decision to acquire Hoverstate because we are constantly looking for new business opportunities. I am sure that this agreement will have a positive effect on the development of the company,” 

Yaroslav Lyubinets, co-founder and chairman of the Board of Directors of SoftServe commented. 

According to SoftServe, the acquisition of Hoverstate will help strengthen and expand the company’s expertise in healthcare, finance, biotechnology, transportation, and logistics.

AIN.Capital reports that the acquisition is an opportunity to gain access to the company’s existing customers and expand the network of contacts to find new ones.