Submitted by Antony Savvas on January 26, 2022
London Stock Exchange-listed Softline is acquiring Russian software engineering services firm MMTR Technology.
The deal will enable Softline to better supply customers around the world with skills across application engineering, modernisation and testing. Additionally, MMTR's tools for resource management will allow Softline to provide this required expertise to customers more effectively, it said.
MMTR Technology is a specialist in software development and application engineering, employing over 440 software engineers, with a focus on business process automation and quality assurance testing. The company is also known for its training laboratory, which is geared towards up-skilling English-speaking testers and developers.
The range of training capabilities offered by MMTR Technology complements those of Academy IT, which Softline announced it was acquiring earlier this month.
Igor Borovikov, founder and chairman of Softline Group, said: “Our three-dimensional growth strategy of growing our geographical presence, our solutions and services portfolio and strengthening our sales channel is supported by our M&A activity. We promised our new investors that we will be investing the large majority of $400m capital raised [from its recent IPO] on strategic and targeted M&A using advantageous multipliers. With this acquisition we strengthen our services capability by bringing hundreds of software engineers into Softline to complement our existing workforce of more than 1,000 software specialists.”
He added: “Together with the team which is joining us through the recently announced SoftClub transaction, this brings our total number of software engineers to approximately 2,500, meaning that we are at 50% of our plan of having 5,000 software engineers in the near future.”
Roman Smirnov, MMTR technology's CEO, added: “I believe that our team will bring a huge amount to the table, helping the company to meet its growth objectives. There has never been more demand globally for IT expertise in application engineering, modernisation and testing, and we're perfectly placed to capitalise on this.” The value of the acquisition has so far not been disclosed.