Romanian software company Siveco has been increasingly focused on its international expansion plans ever since 2008 and might look at partnership opportunities, although organic growth remains a priority for the firm, the company's vice president for international accounts and partners told EMIS.
“Our strategic growth is not necessarily through acquisitions, it could be a partnership, sharing intellectual property with partners and building up solutions on top of this. It could be a joint venture or it might be a limited partnership for specific projects,” Florian Ciolacu said in an interview.
The company might also look at supporting some start-ups in the IT sector in order to gain access to creative and tailor made applications.
“Time is running very fast in the IT market. Very creative and interesting types of applications … are pushed out by new, more innovative applications. There are also interesting possibilities and ideas that can really reach their position on the market, if they have the necessary funding. So, in this situation we are interested to invest in such start-ups. There is no definition on how big, fast and smart the company should be in order to be attractive to be acquired,” the executive explained.
Siveco, which has 750 employees, posted EUR 67mn turnover in 2014 and operates in 27 countries. The company specialises in large and complex projects for education, health, agriculture, and customs organisations, European institutions, private companies and the public sector.