Romanian start-up Oves Enterprise specialising in software development will invest 1.5 million euros in software development, company acquisitions and strategic partnerships, the company announced in a press statement on Thursday, Agerpres reports.
At the same time, the company is expecting its turnover to double in 2022 to 30 million lei.
Earlier this year, Oves Enterprise partnered with the British company OutThink, the developer of the world's first human security management platform in the field of cybersecurity. Under their agreement, the Romanian company will develop several integrated modules of the OutThink solution, contributing to the creation and completion of the the Machine Learning (ML) and Artificial Intelligence (AI) modules that help establish employee /user profiles.
The new partnership is said to be a part of Oves Enterprise's strategy to diversify its portfolio of solutions and skills to access more sophisticated projects aimed at integrating new technologies in the areas of artificial intelligence and big data.
"Another direction considered by Oves Enterprise this in order to diversify its portfolio of skills and solutions is to acquire smaller companies, but with know-how and expertise in solutions that round up those already developed by them and in the use of new technologies that in the end allow the provision of better and more technologically advanced products. This year's investment plan is part of expanding its world presence and accessing more complex projects for increasingly larger companies."
Oves Enterprise is a Romanian software development company founded in 2015 in Cluj-Napoca. In 2019, the company's strategy included offering more complex software development services for projects in the automotive, eCommerce, fintech, telecom, international government institutions.
Currently, 80% of the company's turnover is generated by projects outside Romania that integrate new technologies in the field of artificial intelligence and big data. OVES Enterprise currently employs 71 people at its offices in Romania and Germany.
As part of its world expansion strategy, the company aims to enter five countries by the end of 2022: Germany, the United States, the United Arab Emirates, the United Kingdom and Spain.
Romanian start-up Oves Enterprise to invest 1.5M euros in complex projects, world expansion
Sursă foto: Chief Executive Magazine
Distribuie articolul
Distribuie articolul
Explorează subiectul
Articole Similare
14
President Dan: I informed Gov't that Presidency returns 17.5 mln lei from 2025 budget
14
8
Nicusor Dan, asked whether he supports Serbia's accession to the EU: It must have some standards
8
8
Veterans Relay to kick off on Wednesday with Prince Radu welcoming military participants
8
11
Nicusor Dan invokes Romania's geographical advantage for potentially joining Ukraine rebuilding efforts
11
14
President Dan: Possible decision by Constitutional Court to reject magistrates' pension law - greatly exaggerated
14
7
Nicusor Dan says investment guarantee fund in Moldova should be created after overcoming budget difficulties
7
7
Bucharest Stock Exchange closes higher Tuesday's session
7
12
There are significant areas, central and local institutions, where layoffs are necessary
12
16
President Dan: I will make sure next SRI head makes combating Russian interference a priority
16
12
Former PM Tariceanu reacts to President Dan's statement, says Romania was perfectly ready to join EU
12
12
There is a rift between state and private sector that we must repair (President Dan)
12
7
President Dan: I would bet that Moldova will be a member of the EU in three years' time
7
9
Bucharest Stock Exchange shows revival as companies signal intent to list, says chairman Hanga
9
Comentează