Business news from Ukraine

Ukrainian IT company opens office in Japan

Ukrainian IT company CHI Software has opened an office in Kobe (Japan).
“Over the past year, with the support of Ukrainian diplomats, the IT Ukraine Association, together with the government of Kobe, organized a number of meetings and webinars, where the Japanese side got acquainted with technological solutions and high-quality IT services from Ukraine. The result of cooperation was the opening of an office of the Ukrainian IT company CHI Software in Kobe,” a statement on the Foreign Ministry’s website said on Thursday.
According to the Minister of Foreign Affairs of Ukraine Dmytro Kuleba, the Ministry of Foreign Affairs began to systematically create new opportunities for cooperation with foreign partners for Ukrainian IT companies back in the spring of last year.
“This work brings results that have become especially relevant during a full-scale war. After all, the stability of the Ukrainian economy is extremely important for winning the war, and every successful negotiation, every new contract, every open office further strengthens it. Ukrainian diplomats are making every effort to provide assistance business and work for results together with exporters,” Kuleba said.
The IT Export Boost project started on March 5, 2021. Its main task is to promote IT exports in foreign markets thanks to the capabilities of the network of diplomatic missions of the Ministry of Foreign Affairs of Ukraine abroad.
The IT Ukraine Association is the largest specialized association of Ukrainian service and product companies of various sizes in Ukraine. As of December 2021, she represented 120 companies and over 82,000 IT professionals. The task of the association is to provide favorable conditions for the sustainable development of the information technology sector in the country.

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Estonian company Nortal, which is engaged in strategic consulting and technology implementation, has bought the Skelia IT company along with its offices in Eastern Europe, Dragon Capital said in a press release.
“Skelia has established itself as an international leader in building dedicated technology teams in areas where customers want to remain in control of the development process while experiencing the stability of a premium team and quality of service. Their strong presence in western Ukraine and Poland will provide Nortal with an excellent platform for growth. Together, we can further expand our business across geographies and time zones while strengthening our offering and serving customers across the full spectrum of their needs,” Nortal CEO and Founder Priit Alamäe was quoted as saying.
As noted, the companies will focus on creating new synergies and value for customers, as well as creating additional opportunities for Skelia employees in Poland and Ukraine, which will now become part of Nortal.
“By joining forces, Nortal and Skelia will leverage each other’s complementary and individual strengths, as well as provide new career opportunities for our global combined team of more than 1,700 people. Nortal brings us a wealth of experience in building end-to-end solutions and products. This greatly complements Skelia’s longstanding business of building over 200 sustainable cross-border IT and engineering organizations for leading companies in Europe, the UK, the Nordics and the US,” Skelia CEO and co-founder Patrick Vandewalle was quoted as saying.
The amount of the agreement is not reported.
Skelia was founded in 2008 and currently employs over 350 people, primarily in Ukraine and Poland. Skelia serves clients in 10 countries and operates through a network of offices in the Benelux countries, Poland, Ukraine and the USA.
Nortal was founded in 2000. The company has more than 1.4 thousand employees and has 20 offices in Europe, the USA and the Middle East.
Dragon Capital acted as an advisor to Nortal on this deal. Oaklins Sweden acted as an advisor to Skelia.

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Lviv IT-company SoftServe plans to invest over $100 million in the construction of a creative office campus on the site of Lviv penal colony No. 48 acquired for UAH 377.5 million at a privatization auction.
According to a SoftServe press release on the Business Wire portal, construction will begin in 2022 and it will take about five years. An international architectural bureau will be involved in the work on the project.
“The new campus will not only breathe new life into the whole district of Lviv, but will also continue the development of the city as a major educational and technological hub in Ukraine and in the world,” the co-founder and member of the Board of Directors of SoftServe, Oleh Denys, said.
According to the project, the campus will house SoftServe offices, as well as the company’s corporate university, conference rooms and exhibition grounds, a school and a kindergarten, and apartments.
As reported, SoftServe acquired Lviv penal colony No. 48 on a 10.7 hectare plot for UAH 377.5 million at a privatization auction held on June 3.
SoftServe specializes in software production, development services, quality control and support of information systems and business solutions. To date, about 10,000 employees of the company work in 38 offices. The main offices of the company are located in Lviv and Austin (Texas, the United States). The company’s development centers are located in Lviv, Kyiv, Dnipro, Kharkiv, Rivne, Ivano-Frankivsk, Chernyvtsi, Sofia (Bulgaria) and Wroclaw, Bialystok, Gliwice and Warsaw (Poland).

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SoftServe, one of the largest Ukrainian IT companies, opens a new office in Dubai to support clients in the Middle East region, the number of which is growing rapidly.
According to the press service of the company, the new office of the company is located in the business center Dubai Internet City.
SoftServe said that the company has been operating in the Middle East since 2018, supplying solutions for large business conglomerations in the areas of trade, finance and the energy sector. The Middle East today is a hub that is rapidly developing and attracting investment, and due to the increase in population, opportunities are opening up for activities outside the oil sector. Therefore, this region occupies a key position in SoftServe’s growth strategy.
“Today, we are seeing an increase in demand for software and digital transformation in this region and are pleased to be able to provide our expertise. Our new office will better serve and support our customers by developing innovations in the areas of artificial intelligence, machine learning, cloud solutions, and digital banking solutions. We expect to build long-term and sustainable relationships in the Middle East, providing the most relevant technological solutions and services. Our presence in the location is another evolutionary step in the development of key markets in the region,” the press service said, quoting Executive Vice President EMEA at SoftServe Volodymyr Semenyshyn.
According to the company, the new office of SoftServe in Dubai will offer clients a full range of services – from consulting to project management, implementation of solutions and their ongoing support. In addition to the business development direction, developers will also work in the office.
The company said that the Dubai office will become a place for frequent visits by employees, customers and partners. In general, in 2019-2020, 150 employees of the company traveled to the UAE for business purposes.
“SoftServe is partnering with Google Cloud, Amazon Web Services, Microsoft Azure to showcase expertise across the region that is recognized by global corporations – from cutting edge technology solutions, big data management, cloud architecture to AWS best practices for business and solutions based on Microsoft technologies,” SoftServe said.
SoftServe specializes in software production, development services, quality control and support of information systems and business solutions. To date, about 10,000 employees of the company work in 38 offices. The main offices of the company are located in Lviv and Austin (Texas, the United States). The company’s development centers are located in Lviv, Kyiv, Dnipro, Kharkiv, Rivne, Ivano-Frankivsk, Chernyvtsi, Sofia (Bulgaria) and Wroclaw, Bialystok, Gliwice and Warsaw (Poland).

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U.S.-based IT company CognitOps, a provider of artificial intelligence-based warehouse applications, announces raising $ 11 million within the Series A funding round.
“CognitOps, a global provider of artificial intelligence-based warehouse operating applications, announces today that it has raised $ 11 million in a Series A round of financing. FirstMark Capital led the investment round, with all of the company’s major investors participating, including Chicago Ventures, Schematic Ventures, Haystack, and CEAS Investments. Beth Ferreira, Partner at FirstMark, will join the CognitOps Board of Directors,” the report says.
“CognitOps is tapping into a clear market need and is off to an explosive start. We believe they are at an inflection point to unleash the potential of the modern distribution center by leveraging artificial intelligence and data science at scale. The supply chain disruptions of the past 18 months have highlighted the pain points in the warehouse and have emphasized the market need for new, innovative solutions. CognitOps has only just begun to revolutionize warehouse operations and we are thrilled to be partnering with the team,” Beth Ferreira, a general partner at New York City-based firm FirstMark Capital, said.
CognitOps also announced the creation of a new global headquarters in Austin, Texas and a software development center in Kyiv.

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A large Brazilian IT company, Stefanini, with the value of assets of $1 billion, has announced expansion of its operations in Europe and opening of its office in Ukraine, the company has said in a press release. “Our international presence places us in a privileged position to offer and deliver new services in all corners of the world. We want to expand our operations in Europe, and Ukraine will be our next stop,” Stefanini’s global CEO Marco Stefanini said.
According to Stefanini, one of the factors that influenced the decision by Ukraine, in addition to the thriving IT market, is that 78% of workers in the sector have intermediate or high English proficiency.
“As a global company, it is essential to work with multilingual professionals. Our expectation by the end of the year is to have a staff of 50 in the Kyiv office that is most focused on support and application development,” Stefanini said.
According to the press release, recent reports show that Ukraine has more than 1,000 IT companies and employs about 100,000 workers. With rapid growth in this segment, the expectation according to research studies is that the number of technology workers will double by 2020.
Stefanini was founded in 1987. The company currently has more than 74 offices in 40 countries in America, Europe, Africa, Australia and Asia.