Two Ukrainian software developers make acquisitions in the EU

Illustrating the resilience of the IT sector amid the war, September saw two Ukrainian software development companies invest in Europe. The fist one is Beleven, a Lviv-based developer of digital and mobile solutions, which announced the acquisition of Swedish Agena Tech for an undisclosed amount. 

Founded in 2020 and active across across the Nordic region, this company specializes in searching, staffing and recruiting tech talents. Agena Tech brings a sizeable client portfolio that includes Åhlens, Carlsberg, CDLP, EYTYS, PwC and Samhall, among others, reports Ukrainian tech news outlet AIN. This will provide the Ukrainian company with a strong foothold in the Scandinavian market.

”Adding Agena Tech to the Beleven family amplifies our capabilities and enables us to offer an even broader range of services and solutions to our clients,” Beleven’s CEO Roman Nazarkevych shared on LinkedIn. “We’re not just growing in size; we’re growing in our potential to lead and innovate.”

“This goes beyond a mere acquisition; it’s a collaborative venture that offers businesses in the Nordic region a reliable tech ally,” Mikael Bäckström, Partner and Founder of AgenaTech, was quoted as saying. With our combined strengths, we aim to deliver digital products and solutions  on schedule, within budget, and with the level of quality and innovation essential for success.”

In late September, the media reported that InSoft.Partners, a Kyiv-based software development holding, had invested in Digis, an award-winning Polish IT solutions and consulting provider. The terms of the deal were not disclosed.

Founded in 2015, Digis now has about 200 employees, serving clients — from startups to global digital giants — essentially in Western markets. 

The InSoft.Partners holding includes Forbytes, Indeema Software, Inoxoft, Linkup Studio and Noltic, in addition to Digis, reports AIN. The stakes in Forbytes and Noltic were acquired earlier this year, in March 2023 and July 2023, respectively.

Topics: IT services, Finance, International, M&A, News
Scroll to Top
Everything you ever wanted to know about Ukraine's digital industries
Conveniently delivered to your mailbox, every week
  • Latest industry news
  • Information on startups in Ukraine
  • Market data and reports
  • Interviews with key players
  • Upcoming events
  • Recommended services
* we never share your details with third parties.