Ljubljana, 12 December (STA) - Slovenian companies Saop and Mit Informatika, which specialise in enterprise software, have signed a business combination agreement that creates a new major player on the Slovenian IT market that they say will be better equipped to compete with global software providers.
Saop, founded in 1987 and since 2016 a member of the Czech group Solitea, has acquired the smaller Mit Informatika outright for an undisclosed sum.
"The clients of both companies will reap long-term benefits from the combination. By expanding the team, we will be better equipped to offer clients a long-term and stable partnership," Saop director Petra Šinigoj was quoted as saying in a press release.
Mit Informatika had sales of EUR 1.1 million last year and a net profit of almost EUR 200,000. The much larger Saop had sales of EUR 6.3 million in 2017, the latest year for which data are publicly available, and a net profit in excess of half a million euro.
Saop has subsidiaries in Croatia and Serbia and Mit Informatika director Marjeta Povalej said the deal paved the way for expansion of the company's operations to the two markets.
Saop specialises in accounting software and says it counts a quarter of accounting firms and a third of schools in Slovenia among its clients.
Mit Informatika is a specialist for software applications for the manufacturing sector and construction.