EVERGENT invests in MWARE Solutions, a company specialized in Big Data solutions, unstructured data, artificial intelligence and digitization
27 September 2022
EVERGENT Investments enters the IT sector by acquiring a significant stake in the Romanian software producer MWARE Solution SA. The transaction was carried out with the consultancy of the Filip & Company law firm.
MWARE Solutions differentiates itself from local and even international players in the IT deep tech sector through its technological platform that provides the ability to analyze unstructured data within organizations using a semantic pattern of data understanding based on neural networks, with native deep-learning and machine learning capabilities to discover new perspectives in decision-making, customer understanding, new indicators and possibilities for automating organizational processes based on artificial intelligence.
"The future of advanced technologies is unlimited, starting from solving social and environmental challenges we face today at the global level to the acceleration of discoveries in all fields. We are investing in companies that can transform, that raise standards or challenge the status quo. We believe that, through our investment in the IT sector as part of the EVERGENT Investments strategy, we open new opportunities for our shareholders. MWARE Solutions is a high-performing, sustainable and scalable business", states Claudiu Doros, President and CEO of EVERGENT Investments.
The EVERGENT investment will facilitate the expansion of the MWARE Solutions team, access to large-scale projects, international expansion and the implementation of a corporate governance that will support its next stages of growth.
The IT sector is one of major importance in the Romanian economy, with a contribution of about 6.2% to the Gross Domestic Product, which amounts to 13.6 billion euros. The expectations of this sector are of double-digit growth rates in the coming years, being additionally supported by the PNRR through the C7 component - Digital transformation, with a budget allocation of 1.88 billion euros.