This month, Bianor Holding AD, operating under the brand Wiser Technology, announced that they have acquired the Serbian software development company Badin Soft. This marks Wiser Technology’s seventh M&A transaction in the past 18 months.
A strategic partner in this acquisition remains the Bulgarian private equity firm BlackPeak. “They provided strategic guidance and hands-on support throughout the due diligence process, negotiations, and transaction structuring,” clarified a Wiser representative.
The acquisition aims to further enhance Wiser Technology’s expertise in delivering quality solutions to the financial services and telecommunications sectors. As a result of the transaction, the original founders of Badin Soft and other key team members will become shareholders in Wiser Technology.
The Recursive delved deeper about Wiser’s M&A strategy, key partnerships, and future goals.
Wiser Technology expects 2024 revenues exceeding €30M
According to their data, with this transaction, Wiser Technology’s 2024 pro-forma consolidated revenues are expected to exceed €30M. Earlier this month, Wiser Technology (BSE: BNR) announced moving to the Premium segment of the Bulgarian Stock Exchange and is in the process of finalizing a €12.3M capital increase from the public markets to support the company’s further expansion.
Their newly acquired company, Badin Soft is headquartered in Niš, Serbia, and employs over 100 software engineers and consultants. The company serves clients in the Financial Services and Communications sectors.
In terms of synergies, both Wiser Technology and Badin Soft have extensive experience in the financial services and communications sectors. Both companies share expertise and a portfolio of customers, such as BNP Paribas, Unicredit Bulbank, First Abu Dhabi Bank, Telenor, Telecom Serbia, and more.
“The diversification of delivery centers across the region allows us to better navigate the competitive IT job market. In terms of technological competence, Badin Soft brings a wealth of expertise in areas like AI, data science, and cloud development, which complement Wiser Technology’s current capabilities,” shared Wiser’s representatives.
Growth strategy focused on organic and non-organic expansion in key markets
Wiser’s representatives explained their growth strategy includes “both organic and non-organic growth. However, we expect that the percentage contribution to revenues of the non-organic growth will slow down in the coming quarters.” With upcoming acquisitions, they plan to strengthen their presence in key markets, including Western Europe and the US, to better align with their clients.
Wiser prioritized acquisitions based on industry focus and the complementary skills and technologies that enhance their existing portfolio. Going forward, they have added new criteria, including a presence in target markets like the DACH region and the US, as well as access to enterprise clients. Moreover, they will continue fostering the talent pool within the region, focusing on strengthening their CEE presence.
Industry expertise in sectors such as automotive, aerospace & defense, telecommunications, and financial services will continue to be a key factor.
“Last but not least, we are looking for teams with similar culture, a strong drive to grow and succeed, and a mission to drive positive change in the world through technology,” they explain.
Wiser implements comprehensive integration plan for the new companies
Wiser is in the process of integrating seven companies simultaneously. The company aims to emerge from this process as a unified entity with a single organizational structure, all operating under the Wiser brand. This consolidation is expected to enhance their ability to take on larger and more demanding projects, while also strengthening market presence and expanding customer reach.
To ensure a successful integration, Wiser has developed a comprehensive plan that covers all business areas, including commercial operations, people, processes, finance, and infrastructure. A dedicated Senior Vice President of Integration, Milena Doycheva, has been appointed to oversee the process, working closely with the leadership team.
Wiser’s representatives emphasized that the company invests in regular touchpoints, workshops, and integration activities to ensure everyone is aligned with the ongoing changes: “We believe that the success of any transformation depends on good planning, so we have started with a well-structured integration plan from day 1, which we consider the deal closing date. Thus, we have defined the urgent actions we need to undertake at or immediately after closing, as well as the important projects we need to prioritize for the first 100 days.”
Wiser emphasizes trust and transparency as core elements of its integration strategy. The company has set up joint leadership teams to monitor the process closely and tackle any issues early. In addition, Wiser places a strong focus on the employee experience, offering support, clear communication, and resources to help staff adjust to the new environment.
“This approach ensures that both our employees and clients experience minimal disruption and maximum benefit from each M&A transaction we do,” Wiser’s representatives conclude.
