Bianor Services and the German TechniData Establish a Joint Venture – TechniData Labs Bulgaria

The start of the activity of the new company is scheduled for April.
Sofia, February 19th, 2008 – Bianor Services Ltd and the German company TechniData AG signed an agreement for establishing a joint venture – TechniData Labs Bulgaria Ltd, on February 19th, 2008. Bianor Services will hold 51% of the new company, thus the Bianor Group grows with a new member.

TechniData Labs Bulgaria will be a development center for the leading environmental compliance management solutions of the German company, which are operational in more than 1300 clients in 59 countries.

The start of the activity of TechniData Labs Bulgaria is scheduled for April with a team of 10 experts that will become 25 by the end of 2008. CEO of the new company will be Michael Kohl who has been working for TechniData for 12 years and currently is a vice-president of the company. The procurator in the new company will be Stefan Lilov, CEO of Bianor Services.

“Bianor Services showed a high level of expertise in our cooperation in the last few months. The processes are very well developed and will be very useful for the effective work of TechniData Labs Bulgaria”, Michael Kohl shared. “I believe that together we will manage to attract very experienced professionals and will offer them excellent opportunities for further development”, he added.

“Our partnership with a world leader such as TechniData is an honour for us and in the same time a high evaluation of our work”, Stefan Lilov said. “TechniData Labs Bulgaria will gather the best of us and our partner’s experience. I expect that the joint venture will bring significant value both to our German partners and Bianor Group”, Lilov added.

According to the agreed business plan the revenue of TechniData Labs Bulgaria in 2008 will be over BGN 1 million (about 500 000 ?) and in 2009 it is expected to be doubled.

Source: Bianor

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