In mid-March Ukrainian software developer Acceptic was acquired by Yael Group, one of the leading IT groups in Israel. The news was reported by Ukrainian tech blog AIN.UA which refers to exchanges with Acceptic’s owners.
The terms of the deal were not disclosed, but AIN quotes Acceptic owners as saying the amount was “higher than benchmarking values,” ranging from $1.8 million to 2.7 million, according to AIN’s estimate.
Through this acquisition, Yael Group aims to get better access to Ukraine’s outsourcing market. This country as asserted itself as a major software development power in Eastern Europe.
Founded in 2008, Acceptic has two offices in Kyiv (Kiev) and Kharkiv (Kharkov), employing about 150 employees according to AIN. The company has been rebranded to ‘Yael Acceptic.’
Several Ukrainian IT services companies were acquired or attracted investments over the past two years. Among them are Core Value, which was acquired by Polish IT Kontrakt just a month ago, and Ciklum, in which AVentures co-invested a few weeks earlier. Last year saw Horizon Capital invest in Intellias and a Swiss investor buy massively GlobalLogic stock. In April 2017 Grossum was acquired by The App Solutions.