April 8, 2020

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ComTrade Group snaps up Insoft

by Stuart Wilson, Monday 2 February 2009

Fast-growing ComTrade Group has continued its acquisition policy in South East Europe, snapping up Sarajevo-based Insoft, a leading IT securities trading solutions provider in Bosnia and Herzegovina. ComTrade reckons that the deal strengthens its portfolio of solutions for financial institutions – a core part of the group’s activities.

In a company statement announcing the deal, ComTrade declared: “The decision to take over the company [Insoft] goes in line with the strategy of the company, which anticipates enhanced business in the field of development and sales of IT solutions in the Adriatic region.”

“The main reasons behind the acquisition of Insoft lie in the fact that the company has developed an IT investment banking solution, holding down a quality customer base in Bosnia and Herzegovina and Macedonia, as well as possessing top-level domain knowledge in the field of developing solutions for financial institutions,” the statement continued.

With a view to the further strategic development, ComTrade Group continues to strength its competences on local markets. The ComTrade Group employs some 1,600 staff and offers a complete range of IT-based services and solutions including distribution through CT Computers. With annual growth in the range of 40% and operations spanning 14 countries and three continents, annual sales are in excess of US$375m.

Since its establishment in 1991, a single shareholder – its founder and president Veselin Jevrosimović - owned ComTrade Group. In 2008, Unicredit became the second shareholder by acquiring 21.05% of ComTrade Group.

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