Software Mind, a subsidiary of the Ailleron Group, has announced the completion of the acquisition of the American company Prosoft LLC. This $40.6 million transaction marks a significant step in Software Mind’s expansion in the American market, signalling to investors a significant growth in Ailleron Group’s business.
The acquisition was partially financed with Software Mind’s own resources and an investment loan granted by BNP Paribas amounting to PLN 150 million. The purchase of Prosoft LLC, a firm with a strong standing in North and South American markets, notably increases Software Mind’s income from the American market to near 50%. This stride reinforces not only Ailleron Group’s global aspirations but also forges a path for further dynamic development, especially in both Americas.
Prosoft LLC specializes in creating software for the medical, commercial, fintech and tech-service sectors. The company employs 330 IT experts, a significant bolster to Software Mind’s human and competency resources.
Apart from direct financial benefits, this acquisition has significant strategic importance. Prosoft LLC boasts long-term relations with key American clients and a formidable sales team, attributes formerly lacking in Software Mind’s structure. Prosoft’s team location in the western hemisphere assures proximity and improved synchronization with US clients.
In light of this transaction, Software Mind has not only solidified its position in the American market but has also paved a path for further dynamic development. Coupled with Prosoft LLC’s strong customer base and its seasoned team, this acquisition serves as a promising step for the whole Ailleron Group. Investors and analysts eagerly await more details, due to be disclosed at the forthcoming conference on Q1 2024 results
Trigon DM analysts believe the acquisition of Prosoft LLC will positively impact Ailleron’s financial results in 2024 and the following years. To reflect this positive outlook, Trigon DM analysts today recommend a Buy for Ailleron shares with a target price of 26 PLN.
