Joining forces to unlock global markets.
Prague, July 23, 2024: Seyfor, one of the largest European ICT solution providers, is expanding its activities across Europe by acquiring a 70% stake in M&I Systems Co. The Serbian-based company is a regional leader in the ERP systems market and has a strong presence in Southeast Europe through its wholly-owned subsidiary.
The remaining 30% of M&I Systems Co will be retained by the current owners and executives, who will continue to lead the company and be involved in managing development, business expansion, and consolidation activities. Through this acquisition, the Czech company Seyfor is initiating close cooperation with the entire M&I Systems Group with the goal of expanding activities in the global market and creating innovative synergies in the IT sector. Clients can expect continued excellence in service delivery and a broader range of innovative solutions to meet their evolving needs.
M&I Systems Co forms one of the main active business branches of the entire M&I Systems Group and focuses on developing software solutions with an emphasis on digital transformation, implementing cloud-based ERP systems, automating business processes, data processing, business intelligence, AI utilization, and IT consulting. The company is a long-term partner of major industry players such as SAP, Salesforce, IBM, Microsoft, Celonis, Software AG, Asprova, and Aforza. It boasts a strong and loyal customer base with over 400 clients from the mid-sized and large enterprise segment. In the ERP systems sector, it is the dominant leader in Serbia with significant business influence across the entire Balkan region. Founded over 30 years ago as a family business, M&I Systems Co is now led by an experienced management team, offering a wide range of products, services, and software solutions for various fields and industries.
Seyfor, under the leadership of Martin Cígler, will significantly strengthen its position in the entire Adriatic region through this partnership and expand into other Balkan markets such as North Macedonia, Bosnia, and Montenegro.
“The acquisition of M&I Systems Co represents a significant step forward in our business development activities across the Balkans, where we see great potential for Seyfor. We are convinced that the existing strong position of M&I Systems Co in Serbia and Bosnia, combined with our current activities in other Balkan countries, will enable us to better understand the specific local market, efficiently consolidate joint activities, and strengthen our position as one of the leading European ICT solution providers. On the other hand, we can provide M&I with strong expertise in areas such as cloud solution development, AI implementation, and unparalleled security. We are learning from each other, and these synergies are a significant step forward for both sides,” notes Martin Cígler, founder and co-owner of Seyfor. “I see the PRESS RELEASE collaboration with the experienced M&I Systems Co team as a strong partnership and a springboard for further activities in the region of the former Yugoslavia,” he adds.
The newly formed strategic partnership combines the strong know-how of both sides and opens up possibilities for developing new pioneering solutions in technological innovations to offer customers worldwide higher added value, expanded services, and new business opportunities.
Beyond the ERP sector, the M&I Systems Group will continue to develop all existing business areas. In managing the company, further growth, strengthening its position as an innovative leader, and further consolidating the IT market, partners Vladan Balaban and Nikola Balaban will continue to leverage their many years of experience and knowledge of the local business environment and international opportunities.
“Over more than 30 years of existence, M&I Systems Group has grown from a family business into a structured corporation operating in five different markets and now holds one of the leading positions in the IT industry. The partnership with the Czech company Seyfor is another significant milestone for us, contributing to our goal of becoming a key player in the Central and Eastern European market. By combining our strengths and resources, we will be able to offer our clients unparalleled value and support mutual success and growth. Together, we are now well-positioned for further growth, opening new markets, and strengthening our market leader position,” comments Vladan Balaban, President of M&I Systems Group.
“We have long considered finding a suitable strategic partner to significantly advance the development of our systems, especially with regard to the shift to cloud solutions. The partnership with a strong partner like the Czech company Seyfor opens up new possibilities for synergy in developing cloud solutions for our existing systems, including top-notch security, which is becoming a key priority for most companies today,” adds Nikola Balaban, CEO of M&I Systems Group.
Both companies have decided not to disclose the value of this acquisition, which represents one of the largest and most complex transactions in the entire region. Through previous acquisitions, Seyfor is strengthening its position across all key areas of IT system development and business expansion in Europe. The company currently provides its products to companies in 38 countries.
About SEYFOR:
Seyfor, a.s. is one of the major European providers of ICT solutions. The company has over 1,700 employees and serves customers in 38 countries. In 2023, it recorded a 30% year-on-year growth for the fourth time in a row and has long been one of the fastest-growing IT companies in the region. Seyfor is the largest producer of accounting, ERP, payroll, and HR systems in the Czech Republic and a leader in the Czech, Slovenian, and Serbian markets. In recent years, the company has completed dozens of significant acquisitions of IT companies in the Czech Republic, Slovakia, and the Balkans. The company was originally founded in 1990 as Cígler Software, and from 2017 to 2022, it operated under the brand Solitea. The controlling owners of the company are the Slovak company Sandberg Capital and the Czech entrepreneur Martin Cígler.
About M&I SYSTEMS GROUP:
M&I SYSTEMS GROUP is a fast-growing technology leader and a global company with over 30 years of experience in the market, leveraging ERP, cloud, data, AI, IoT, software development, consulting, digital engineering, and proprietary platforms to address the entire breadth of business needs to a strong and loyal diversified customer base of more than 500 clients. With industry-leading expertise and outstanding technology know-how provided by more than 400 highly-skilled professionals, M&I SYSTEMS GROUP supports customers and business partners in the successful implementation of digitalization and industrial transformation partnering with global tech companies such as SAP, Salesforce, Microsoft, IBM, Celonis, Software AG, FIS and STT to name a few. Applying expertise in technology, fintech, data science, and business process automation, M&I SYSTEMS GROUP successfully provides strategy, innovation, and transformation consulting across Adria region, DACH and the US. The Group’s unique value offering that distinguishes it from competitors is its proprietary Beyond Digital Platform, a cloud-based intelligent ERP framework, offering holistic and modular range of business and technological solutions, well-placed to ensure customers achieve their industrial transformation, digitalization and ESG goals across all industries.