Symfonia Group enters international market with its first acquisition outside Poland.
Symfonia Group, a leader in the Polish market of ERP and HCM solutions for small and medium-sized enterprises, backed by Silicon Valley’s leading tech investor Accel-KKR, and experienced Central European investor – MidEuropa, acquired 100% of shares in Softeh Plus.
Symfonia Group decided to buy a company that stands out in the Central European market. Softeh Plus, a Romanian technology company, operates in several rapidly developing sectors of the economy. It holds a leading position in the local market for solutions for medical facilities supporting key players in Romania, including Regina Maria and Medicover. It also offers an advanced ERP system and tailored solutions for the construction and infrastructure project industry.
Medical technologies in Europe
The “healthtech” industry is one of the fastest-growing in Europe. The total value of European companies dealing with medical technologies has increased more than sixfold between 2016 and 2021 – from $8 billion to $41 billion. Telemedicine primarily led this change.
In our opinion, Softeh Plus solutions for medical institutions and pharmacies represent the highest, international level in terms of technology and functionality, said Piotr Ciski, CEO of Symfonia Group. We see here great potential and the possibility of expanding products beyond the Romanian market. Several industry solutions could certainly also interest Polish clients.
Digitization in Romania
The Romanian market is the second-largest (after Poland) market in Central and Eastern Europe. Similar to Poland, many software development centers working for leading American and international IT companies are located here.
Interestingly, Romania introduces European Union legislation that aims to digitize the economy. The equivalent of the Polish KSeF (National System of Electronic Invoices) has been being introduced here since the beginning of this year. On the other hand, a system that is equivalent to the Polish JPK (Unified Control File) has been operating in this market for two years.
International expansion vs domestic market
The Symfonia Group is consistently building its position as an ERP leader for small and medium-sized enterprises in Central and Eastern Europe, while remaining strongly engaged in its domestic market in Poland.
Our plans assume the use of the potential of companies in their local markets, says Piotr Ciski – initially we want both companies to continue their dynamic growth and utilize their market opportunities. Just as we invest in Symfonia, we will invest in Softeh Plus to accelerate the company’s growth in the Romanian market and leverage market potential. In the near future, taking advantage of the synergy between our companies, we will jointly plan common projects for European clients, to whom we will offer many innovative solutions.
