Credit: Aricoma
On Friday 6 September 2024, Aricoma, a Czech provider of end-to-end services and IT solutions for businesses (and part of the KKCG investment group), announced its acquisition of Luxembourg-based developers Neofacto.
Founded in Luxembourg in 2000, Neofacto employs about 80 people. It provides a range of software services for financial institutions in Europe, in particular the European Investment Bank (EIB). These include API programming and integration between applications, web design (front- and backend, database management), mobile app development and testing, DevOps (technical tools and training), business analytics, testing, and blockchain and AI services.
"The acquisition of Neofacto is a logical step for us. It strengthens our work for the European Union institutions, including the supranational EU bodies based in Luxembourg. And of course, we are delighted to welcome dozens of experienced industry professionals among us. Together we can significantly strengthen our offering to the EU institutions, authorities and other customers in the Benelux and DACH region," said Aricoma CEO Milan Sameš.
"As we have declared recently, Aricoma has the ambition to expand into the Benelux and German-speaking markets. The acquisition of Neofacto is one of the first steps on our path to becoming a major provider of end-to-end IT services in Western Europe," added Michal Tománek, Investment Director and Deputy Chief Investment Officer at KKCG.
"We have entered a new phase in our more than 20-year history. Not only are we becoming part of a strong European IT company, but our business fits well with the work and strategy of Aricoma's international team based in Brussels and Luxembourg," commented Ludovic Compere, CEO of Neofacto, who will continue in his role at the company.
Besides EIB, Neofacto's customers include Luxembourg banks ING and Spuerkeess (BCEE), Luxembourg insurance company Foyer and the Luxembourg Stock Exchange (LuxSE). In 2023, the company achieved revenues of €10.3 million.
Aricoma's International team is based in Brussels and provides services to the European Commission, FRONTEX and Europol, among others. Aricoma is part of the technology pillar of the KKCG investment group, employs more than 1,600 professionals and has revenues of €400 million.
