Euvic and Sofitiq enter artificial intelligence. Stermedia joins the Group
The Stermedia Group – one of the leaders in the artificial intelligence (AI) and robotic process automation (RPA) market – has joined the technological capital group Euvic. The transaction will strengthen the competencies of the Euvic Group and supplement its offer with new innovative products and services in the field of future technologies.
Shares in the Stermedia Group were acquired by Softiq – a company belonging to the Euvic Group, which specializes in the production of software for public administration, banking and healthcare. Despite the engaging and ambitious projects it has in its portfolio, Softiq is still looking for opportunities for diversification and growth. It focuses mainly on areas that allow the use of the synergy effect resulting from the combination of already possessed experience with innovative technological areas. The transaction with the Stermedia Group allows Softiq to expand their offer with services in the field of AI, RPA, products for industrial companies such as AndonCloud, and many others.
The market today needs integrated competences in the field of AI, industry 4.0 and process automation. Public sector entities, which are the main recipients of our services, already operate on huge data sets, but they are more and more willing to use technologies and solutions which enable their advanced analytics. Stermedia has extensive experience in carrying out IT projects in such areas. Thanks to joining forces, we have a chance to create an interesting proposition for our current and future customers – says Andrzej Plachta, vice president of Softiq.
Machine learning improves efficiency
Stermedia has been operating on the market since 2009, creating efficient applications for its clients from Poland, Western Europe and the USA – it designs and develops software. The company is one of the pioneers in implementing AI in Poland.
The strong competences in the field of AI are what distinguish Stermedia on the market and in the Euvic Group. Through its subsidiary Stermedia Automation, it operates in the field of robotic process automation (RPA), being a partner of the global software suppliers BluePrism and Automation Anywhere.
We are glad that we will be able to help the Euvic Group expand its activities with innovative technologies. The use of machine learning and deep learning in image, text or numerical data analysis creates new benefits for numerous customers of the group: reduction of losses in processes, improvement of efficiency and quality of work. In addition, it opens up opportunities to create new products or business models – says Piotr Krajewski, president of Stermedia.
Rapid growth possible thanks to mergers and acquisitions
The latest investment is in line with Euvic Group’s acquisition policy. Companies belonging to the Euvic Group are following it, strengthening its potential and scope of activity.
Business development not only through organic growth, but also through mergers and acquisitions is the path chosen by companies that want to create a competitive offer not only on the domestic market, but also on foreign markets. The competences that we have at our disposal as a Group enable us to respond to almost every challenge and need of our clients. We are aware of our strengths, but also areas of competence in which we can be even stronger, which is why I am enthusiastic about welcoming Stermedia to the Euvic Group. I am glad that the Group’s companies are acting boldly and seizing the opportunities that allow them to go further and do more. Their involvement in the acquisition policy gives the Group the possibility of even more dynamic growth – comments Wojciech Wolny, CEO of Euvic.
The potential behind the deal
The transaction between Softiq and Stermedia combines not only the potential of the two companies and the skills and experience of their teams but also the potential of their shareholders representing large business groups.
Softiq is part of the Euvic Group led by Wojciech Wolny. In turn, one of the shareholders of Stermedia is Tomasz Misiak – a member of the Supervisory Board of Personnel Service, founder of the Work Service employment agency listed on the Warsaw Stock Exchange, investor and founder of the venture capital fund Mizyak Investment Fund.
Such a combination of potentials creates many interesting opportunities for cooperation, and its first effects are already visible. Tomasz Misiak was invited to the supervisory board of eoNetworks – a company listed on New Connect, in which Euvic has recently taken a controlling stake.
The Euvic Group has been operating on the Polish market since 2005. Its companies employ over 3.5 thousand people in over 20 offices in Poland, but also in Austria, Sweden, Germany and the USA. The last two years have been a time of strategic changes for Euvic and expansion based on the acquisition policy. The Group operates on the basis of five complementary business pillars that constitute a comprehensive IT offer for business – Software Development, Body / Team Leasing, IT Infrastructure, Innovations and Digital. The Euvic Group, whose plans – apart from further acquisitions – also provide for expansion and development of the offer on foreign markets, recorded a total revenue from all companies of over PLN 726 million, and EBITDA was PLN 63.9 million in 2020.
The company, based in Wrocław, has existed since 2009. It provides services in the field of software development and solutions using the latest technologies, such as artificial intelligence, machine learning and deep learning, for clients from Europe and the USA. It operates mainly in the manufacturing, logistics and HR sectors. In Poland, its services are most often used by corporations and medium-sized enterprises, while abroad – by startups. The company’s clients include Volkswagen, BMW, GE Power, Nationale Nederlanden, Credit Agricole, Decathlon, Poczta Polska, Work Service, iTaxi. In 2021, Stermedia established a special purpose vehicle Stermedia Automation (Robotic Process Automation) and invested in the product company AndonCloud (Industry 4.0).
The company, based in Gliwice, has existed since 2015. It operates mainly in two business areas – software development and team extension, offering support to clients also in the field of system integration, cloud solutions, Business Intelligence and microservices. The company implements projects mainly for the public administration sector, as well as for banking and healthcare. The activities in which Softiq is involved include technical support for the “Dobry Start” program i.e. financial support in the amount of PLN 300 for all students starting the school year. Softiq specialists work both on the side of ZUS and in a team within the Ministry of Family and Social Policy. The projects also include the creation of the Electronic Invoicing Platform or the modernization of the system supporting the Large Family Card and the “500+” program.