Symfonia Group's expansion into European markets

Symfonia Group, a leader in the Polish market for ERP and HCM solutions for small and medium-sized companies, backed by Silicon Valley technology investor Accel-KKR and Central European investor MidEuropa, has acquired 100% of Softeh Plus, a leader in the Romanian healthtech market. The Group plans further acquisitions, in line with its strategy to strengthen its position in the CEE region.

Symfonia Group, with a team of over 700 employees and businesses of approx. €45 million, aims to become one of the leading software suppliers for small and medium businesses in Central and Eastern Europe. Full acquisition of Softeh Plus in Romania is the first step towards this ambition.

Symfonia Group is a leader in ERP and HCM solutions for small and medium-sized businesses in Poland, with a diverse and loyal customer base of more than 50,000 small and medium-sized businesses and accounting offices. Symfonia Group's client portfolio is characterized by its focus on highly regulated areas, with a key specialization in accounting and HR and payroll.

The company has a strong presence in several industries, including automotive, construction, manufacturing, retail and services. This wide-ranging presence provides the Polish group with unique insight and expertise in these industries.

Symphony Group is focused on innovation, increasing the use of machine learning and AI in its solutions for excellent User Experience.

A high level of expertise in business and legal areas and collaboration with industry organisations has established Symphony Group as a 'Trusted Advisor' in the market.

Healthtech & e-invoicing competence from Romania

Softeh Plus is a company with a strong position on the Romanian market, which ended last year with more than €7 million in revenue and employs more than 120 people. It has high quality solutions for the construction sector and is the leading provider of ERP systems for the healthtech industry in Romania. Symfonia Group appreciated the high level of solutions offered by Softeh Plus, especially as the healthtech industry is one of the fastest growing in Europe.

In addition, Romania is a pioneer in the digitalisation of taxes in Europe - E-invoicing is already in force there as of 1 January 2024. Softeh's expertise in this area will be used by Symfonia Group in the years to come, once the EU law has been extended to all countries in the community.

Both companies agree on business operations and goal-oriented and growth-oriented directions. Softeh Plus will retain its well-respected branding in the local market and continue existing business operations with Symfonia Group's support in marketing, sales and product portfolio development. In the coming months, the companies' teams will focus on knowledge sharing and selected innovative projects involving leading solutions and technologies from both organizations.

This acquisition is more than a geographical expansion, it enriches Symfonia Group's portfolio, solidifying our role as a key player in Central and Eastern Europe. Collaborating with the Romanian team on innovative projects will bring significant advantages to our partners and clients. In the long term, we are considering further acquisitions in foreign markets. We see great potential for expanding our offerings and increasing the reach and scale for the products we manufacture. We want to continue to grow as a Group, so we are constantly scanning the market for interesting companies and business partners. We are inviting European companies that are doing a review of strategic options to talk about joint development. This is a good direction for generating additional synergies and combining businesses - says Piotr Ciski, CEO of Symfonia Group.