





Romanian company Siveco takes over Bulgarian IT company for 3 million euro
Out of the total value of the transaction, the purchase price is actually 2 million euro but the other 1 million euro represents the total investments Siveco plans for the newly bought Bulgarian company.
Socol declared that the Bulgarian market has two main advantages for Siveco: on the one hand, Bulgaria is very close to Romania and the Bulgarian market has a great potential for growth.
Siveco Romania estimates a 20% growth from the 70 million dollars registered last year, to 84 million dollars in 2008. Siveco registered a 65% growth last year as compared to 2006.