Private equity fund Innova Capital acquired an undisclosed stake in Poland’s largest software development house STX Next, the fund said on October 21.
The value of the transaction was not disclosed. As the company has now won backing from one of the largest private equity funds in CEE, its key goal for the coming years is to “continue growth in markets such as the UK and the US, by strengthening relations with existing customers and acquiring new orders in sectors where the company has accumulated experience,” STX Next said in a statement.
The largest software house in Europe specialising in designing and creating digital solutions in the Python programming language, STX Next offers solutions for financial services and technologies, marketing and media, retail and consumer products, healthcare, and real estate.
Following the investment from Innova Capital, “the company wants to increase headcount, develop new specialised services, and expand into new foreign markets, including through mergers and acquisitions,” STX Next said.
Innova Capital is an independent private equity advisor, operating from Poland and investing in majority buyouts in mid-sized enterprises in CEE.
Since 1994, Innova Capital has invested close to €1bn in almost 60 companies located in 10 countries in the region.