The venture funds AVentures Capital and Insoft Capital have sold a majority stake in the IT company CoreValue, according to a press release from AVentures. CoreValue was purchased by IT Kontrakt, one of the leading IT outsourcers in the Central and Eastern Europe region, owned by Oaktree Capital Management and Cornerstone Partners Investments. The sum of the transaction is not disclosed.
“The integration of CoreValue into the IT services competency platform is a very important step for us in creating a global IT outsourcing platform. The company proved its potential and strong technological competence by providing services to large customers in the highly competitive U.S. market,” the board chairman of IT Kontrakt, the executive chairman of IT Services Competence Platform, Tomasz Pyrak, said.
CoreValue is an IT outsourcing company based in the United States. The development centers of the company are located in Ukraine and Poland. It was founded in 2004. It has grown to 400 people and delivers solutions to Fortune 500 companies, as well as to medium and large enterprises in the United States and Europe. CoreValue’s competence includes CRM-based services, cloud and mobile applications for such industries as Pharmatech, Healthcare and Finance.
AVentures Capital bought a minority stake in CoreValue in 2017.
City Capital Group (CCG, Kyiv) of Israeli businessman Ofer Kerzner, managing the Platforma art factory in Kyiv, plans to invest more than $50 million in opening new offices in the capital in four years. “The office real estate market is coming to life. All experts predict an increase in the demand in this segment. IT companies are declaring a shortage of quality space. We respond quickly to the increasing interest and are working to become the largest ecosystem of innovative office spaces in Ukraine … During the next four years, the company will use at least $50 million for investment,” Maria Kazantseva, a member of the board of directors of City Capital Group, said in an interview with Interfax-Ukraine.
According to her, all new CCG projects will be a revitalization of old industrial facilities. All the new office formats of the company (the Voronin factory, the Innovation Park platform and the project in Skovorody Street in Podil) will be included in the umbrella brand Platforma.
City Capital Group was created by Israeli businessman Ofer Kerzner in 2007 to implement projects in the field of development, construction and property management in Ukraine.
One troy ounce=31.10 grams
