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As I started blogging about Eastern European startups, the main premise was to see the CEE tech economy changing from primarily outsourcing-driven, to the innovation-driven.
Today we learn that another outsourcing company – this time from Bulgaria – Sofica is being acquired by TeleTech. The size of the transaction has not been disclosed.
Founded by Bogdan Petrov and Pavel Ezekiev, the VC at NEVEQ Capital Partners, Sofica provides business process outsourcing services, and specializes in customer management services in 18 languages.
Sofica employs 1100 people and generates annual revenue over $15 million, according to Ezekiev.
The acquirer Teletech, which so far confirmed the intention to buy Sofica (transaction to be closed within the next week), is a US-based public company with a market capitalization of $1,3 billion.
So hopefully after this exit we can see more high-tech investment from Ezekiev and NEVEQ, which has also recently exited another portfolio company 3DC.