ATHENS, GREECE – December 18, 2023 – SOFTONE Group of Companies, the leading provider of cloud-based business software in Greece and SE Europe, announces the acquisition of 100% of the share capital of Sunsoft, a leader in the production of ERP and other advanced IT systems for catering and hospitality businesses. This strategic investment signifies SOFTONE Group’s entry into one of the most vital sectors within the Greek economy, characterized by substantial growth potential. Venero acted as exclusive financial advisor to Sunsoft.
This investment will enable SOFTONE Group to leverage the commercial opportunities arising from the strong growth prospects of Ho.Re.Ca and address the challenges associated with the sector’s digital transformation requirements. Sunsoft’s deep market knowledge expertise and ERP offering, combined with SOFTONE’s leading cloud technologies, form a range of technological and commercial synergies, laying the groundwork for a powerful offering that meets the industry’s growing demands, such as the integration of cash registers and POS, the electronic invoicing and automatic update of myDATA, the Digital Work Card, etc.
Referring to the new investment, the CEO of SOFTONE Group, Mr. Panos Martinis, stated: “I welcome Sunsoft to SOFTONE Group. The acquisition of one the leading companies in Ho.Re.Ca market, marks our entry into the most rapidly growing industry of the Greek economy. Focusing on powerful synergies, we are entering this field at a pivotal time, to drive the digital transformation of Ho.Re.Ca businesses across their functions, through integrated and fully optimized solutions, focusing on building and leveraging strong synergies.”
Sunsoft’s President Mrs. Mina Mimikou, stated: “We are excited to join the SOFTONE family. This development is the culmination of our people’s commitment to achieving Sunsoft’s goals through the years. I am confident that, with the support of the largest business vendor in Greece, we will continue to offer comprehensive business software solutions to catering and hospitality businesses, enhancing their capability to provide high-quality services to their customers."
Lefteris Bibakis, Partner at Venero, said: "It was a pleasure supporting Sunsoft on this transformational transaction for the Greek Ho.Re.Ca and ERP market. The outlook is bright for SunSoft and we wish them continued success, now as part of the enlarged SOFTONE Group."
This marks yet another successful Work Tech M&A transaction for Venero Capital Advisors, following the sale of conversational AI platform Clevy to Fountain, skills intelligence platform Boostrs to Visier, employee skills management vendor People Analytix to LearningPool, and many more.
For enquiries, please contact:
Lefteris Bibakis, Partner, firstname.lastname@example.org
About Venero Capital Advisors
Venero Capital Advisors offers tailored and independent investment banking services to businesses operating in HR Tech and the Future of Work sector. Our client relationships are built and carefully maintained on trust, discretion and dedication. We combine in-depth industry expertise with market leading advisory skills – delivered within a highly confidential and unconflicted framework.
Venero is the only international corporate finance advisory firm focusing exclusively on HR Tech and the Future of Work. More WorkTech/HRTech companies trust Venero Capital Advisors to deliver a successful M&A transaction than any other investment bank. We are incredibly proud to be the financial advisor of choice for Future of Work businesses globally.
For more information, please visit www.venerocapitaladvisors.com
To receive M&A and capital raising insights, deal announcements, research reports and news from Venero Capital Advisors, register here.