Beetroot Acquires Bulgarian IT Company South Gate Tech, Expands Presence in Europe
March 11, 2022 — Stockholm — Sofia-based software development company, South Gate Tech, joins the Beetroot AB family. The merger negotiations have been ongoing since the fall. After encountering Russian…
March 11, 2022 — Stockholm — Sofia-based software development company, South Gate Tech, joins the Beetroot AB family.
The merger negotiations have been ongoing since the fall. After encountering Russian military aggression against Ukraine, Beetroot’s focus has been to safeguard its teams and infrastructure in the region, maintaining its commitments to international clients and partners. South Gate Tech now joins the Beetroot Ecosystem to help build a stable global presence. Furthermore, the Bulgarian team expands Beetroot’s engineering capabilities and contributes to its mission: to create an active and sustainable impact in society.
Founded in 2018 by Kamen Bochev, South Gate Tech is committed to shifting the mindset of the software industry towards people-centric development. The company’s expertise ranges from Big Data and Digital Transformation to Software Consulting & Engineering. South Gate Tech serves clients in the UK, Germany, and the USA, building strategic partnerships with startups and established tech companies in various domains, including FinTech, Telecom, Media, and Education.
“Beetroot seemed like a perfect match for us from the very start,” said Kamen Bochev, Founder and CEO of South Gate Tech. “The idea of merging has been shaping up naturally as we realized we have the same culture, vision, and goals. By joining forces under the Beetroot umbrella, we will expand our reach and add more value to our customers and consultants.”
“We’re excited to welcome South Gate Tech to the Beetroot family,” said Andreas Flodström, Co-Founder and CEO of Beetroot. “We have been working on the acquisition since autumn — the timing just happened to be with the war. However, expanding our foothold in Eastern Europe at this critical time contributes to our continuity as a company. Combining tech talent from many different countries will help us achieve stability and maturity in our ambition to create a truly global impact.“
Beetroot Academy, the Beetroot Ecosystem’s educational unit, also enters the Bulgarian market by offering four intensive online courses to start a career in tech. Each 4-month intensive course is tailored for learning during off-work hours and focuses on building practical skills. The additional benefits for students include career mentorship and networking opportunities.
The acquisition of South Gate Tech is the fifth in Beetroot’s already significant track record, following successful deals with Stockholm-based Aducera Consulting and Ukrainian IT teams Oxygen Soft, Oldmin, and Onlinico in 2019-2021. Bulgaria is now home to Beetroot’s second full-scale EU delivery center, with locations in Poland primed to follow in the near future.
About Beetroot AB
Beetroot is a tech ecosystem with its roots in Sweden, helping clients solve their software and staffing needs by managing each and every step in tech competency — from education to sustainable development services.
Beetroot was founded in 2012 and today engages around 600 people across its headquarters in Stockholm, Sweden, and Europe.
Read more about Beetroot here.
About South Gate Tech
South Gate Tech is an IT company based in Sofia, Bulgaria. Its united team of software engineers has vast experience in Big Data and BI, Cloud technology, Software Consulting & Engineering.
Founded in 2018 by Kamen Bochev, South Gate Tech has a fast growing client base in the media, telecom, and gaming industries. The company is committed to people-centric business culture and ensures strategic business growth for its clients through intelligent software solutions.