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Neos and SV Group – in synergy towards becoming a regional IT leader

(Zagreb, 25 May 2022) – Neos, company specialized in technologically advanced IT solutions, and SV Group, company specialized in software development and implementation, strengthen their joint market position through stronger corporate association.

NEOS and SV Group represent an IT group with over 130 employees, mostly highly-educated software engineers, with revenue of HRK 114 million and EBITDA of HRK 20 million in the last year.

“Consolidation in the Croatian IT industry is, according to our strategic assessments, unavoidable, especially for companies such as Neos, that possess the ambition to become key players in the wider region. I am confident that the joint market presence of Neos and SV Group will have a synergetic effect, where our competence in software engineering, data analytics, machine learning, and especially in the fast-growing area of Cloud infrastructure, will be solidified and boosted. At this moment we are considering possible options for acquisitions beyond the borders of Croatia, more specifically, in Slovenia.” said Davorin Capan, Management Board member and CEO of Neos.

The synergy of Neos’ status as the leading Oracle partner in the region and SV Group as the first IBM Platinum Business Partner in Croatia, along with their combined expertise and competencies, bring stability and profit to clients in the finance, insurance, telecommunication and public sectors.

“By consolidating the offering and integrating services, we will become a major competitor on the regional market of Cloud services. Firmly anchored in two global platforms, Oracle and IBM, we will become an indispensable player in the Cloud ecosystem and enable an easy and efficient Cloud journey to companies on the regional market and beyond.” concluded Davorin Capan.