Business News

Datalab Buys Serbian Software Maker

Ljubljana, 15 July (STA) - Pushing ahead with its strategy of expansion in SE Europe, Datalab announced on Thursday the takeover of Serbian company Blue Soft, in a deal that will make the Ljubljana-based software company the biggest business IT company in SE Europe.

Under the deal, Blue Soft will be merged to Datalab, which will assume all rights for its accounting software for small and medium-sized companies, Blue Soft 04.

The merger will produce a company with 900 staff, which Datalab said in a statement posted on the website of the Ljubljana Stock Exchange makes for the biggest business IT solutions provider in the region.

Datalab expects that the acquisition will bring in an additional EUR 1.6-3.9m in licence revenues and support revenues of EUR 375,000.

Moreover, the company expects to tap into Blue Soft's 30 distributors in Serbia, Bosnia-Herzegovina and Montenegro to expand sales of its Pantheon line of business software, to which Blue Soft 04 will be added.

Existing users will be offered a cheap and seamless transition to Pantheon, said Datalab, which said that its goal is to raise the number of users of Pantheon from 20,000 to 30,000 by the end of next year.

Blue Soft 04 is currently used by 4,000 companies in Serbia, Bosnia and Montenegro. Blue Soft meanwhile assesses that there are another 13,000 users of pirated version of its software.

As part of the merger, Blue Soft will focus on the establishment of a user support centre for Serbia, Montenegro and Bosnia-Herzegovina.

This is Datalab's fourth takeover of a company from SE Europe in recent times, and by far the biggest. The company, which last year generated revenues of EUR 3.6m, making a profit of EUR 183,000, said it would continue to seek such partnerships in SE Europe in the future.

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