Artificial intelligence stands at the core of Europe’s digital transformation — and Sirma Group Holding (Sirma) is among the companies shaping that future. Today, almost every business calls itself an AI company, but few were developing AI long before the hype. That legacy may be exactly why Sirma takes a more holistic view — seeing AI not as a buzzword, but as a foundation for real business transformation.
With the launch of Sirma.AI Enterprise, the Bulgarian tech pioneer is entering a new phase of growth, combining deep technological expertise with a vision for sustainable expansion. In this interview, CEO Tsvetan Alexiev shares insights into AI’s role in business competitiveness, Sirma’s strategic direction, and the company’s upcoming dual listing on the Bulgarian and Frankfurt Stock Exchanges.
Sirma has been a driving force in Bulgaria’s IT industry for more than three decades. How has the company evolved, and what’s next?
When we founded Sirma back in 1992, our goal was to develop solutions based on artificial intelligence; however, at that time, AI meant something very different. Our early projects in North America focused on expert systems, early neural networks, fuzzy logic, and genetic algorithms. Over time, we expanded into other IT domains and started developing our own products.
But AI has always been an integral part of our DNA. We’ve consistently embedded intelligent technology into everything we build to deliver better value to our clients. Only three years ago, AI was still considered an “add-on.” Today, it’s at the heart of how organizations think about efficiency and transformation — what we envisioned back then is now a reality.
You’ve mentioned that Europe still lags behind the U.S. in adopting AI. What’s holding companies back?
The truth is that many organizations in Europe are still using AI tools at a surface level — as individual employees experiment with chatbots, rather than as part of a strategic transformation. That’s a huge difference.
At Sirma, we believe that AI adoption has to start at the enterprise level — embedded in the company’s systems, processes, and data workflows. Europe has the talent and knowledge base to catch up, but it needs to adopt a more structured approach to implementing AI across various industries. That’s where companies like ours can make a real difference.
How is Sirma preparing to lead this shift — and what role does Sirma.AI Enterprise play?
We’re well-positioned to help drive AI adoption across European industries — not only because of our long-standing expertise in artificial intelligence, but also thanks to the in-depth industry knowledge we’ve developed over the years. Our work spans several key sectors, including BFSI (banking, financial services & insurance), transportation and logistics, healthcare, manufacturing, hospitality, and the public sector.
The launch of Sirma.AI Enterprise marks a new stage for us — an integrated platform that helps organizations build their own AI ecosystems securely and efficiently. It supports both cloud-based and on-premise large language models (LLMs), giving clients full flexibility depending on their data security and compliance needs.
We’ve developed tools and configurations that allow local LLMs to run directly within a client’s infrastructure, while our industry expertise helps fine-tune AI agents for specific business needs.
One of the platform’s most substantial advantages is its ability to serve clients from highly regulated industries or those concerned about data leakage. For them, we offer hybrid solutions where a local model anonymizes and cleans the data before it is shared with a global model outside the organization.
The platform also helps optimize model costs and centralize AI management across organizations. Importantly, we first tested it internally, refining usability, data security, and model accuracy before offering it to clients — a process that validated its real-world readiness.
Sirma is also planning a dual listing on the Frankfurt Stock Exchange. What’s the strategic thinking behind that move?
Our goal is to position Sirma as a pan-European technology leader. Listing in Frankfurt in early 2026, alongside our presence on the Bulgarian Stock Exchange, is a natural next step. It will help us gain visibility among European investors, increase liquidity, and secure access to new sources of capital for future acquisitions and R&D.
We plan to raise capital in 2027–2028 to fuel our next growth phase, both through organic expansion and strategic acquisitions in markets where we can bring added value.
The past few years have been turbulent for many tech companies. How has Sirma managed to sustain growth?
We’ve achieved strong results despite market turbulence — over 20% annual growth in the past two years and a 70% year-on-year increase in share price. That’s thanks to several key moves: we restructured six subsidiaries into one unified company, reorganized around industry verticals, and strengthened our marketing and sales operations across Europe.
Most importantly, we’ve aligned the entire organization with the coming AI era — not just technologically, but strategically. That transformation is already paying off, and we’re confident there’s still significant room for growth.
Looking ahead, what’s your long-term vision for Sirma?
As AI becomes a defining force across industries, our focus is on helping enterprises adopt it in a practical and secure manner. Beyond our home region, we aim to strengthen our footprint across Europe and continue building long-term value through innovation and partnerships.
Sirma’s growth remains steady, supported by both organic expansion and strategic acquisitions. Our recent investments in AI are beginning to show results. With new operations in the Middle East and growing interest from the Asia-Pacific region, we’re entering a new phase of international development.
