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The M&A Watch: Eastern Europe – May 2021 Coverage

By Emily Halstenberg | May 17, 2021

The M&A Watch: Eastern Europe – May 2021 Coverage

Our monthly M&A Watch spotlights deals in the Information Technology industry throughout Eastern Europe.

This month, we highlight 8 deals – most of which were announced in the Digital Commerce space. Strategics are increasingly looking to diversify their service offerings and capitalize on the rapid growth of the global Digital Marketing industry, which has been accelerated by COVID-19. Overall, buyers continue to show interest in the Central and Eastern European region in an effort to add off-and-nearshore capabilities, as well as to capture the region’s expertise in the IT space.

In particular, we anticipate M&A activity in the Romanian IT Services and Software sector to accelerate in 2021 – our latest blog post explores underlying trends driving interest in Romania, as well as spotlights recent transactions.

Santa Monica Networks acquired by Latvijas Mobilais Telefons, a subsidiary of Telia Company (STO: TELIA). Santa Monica Networks, based in Latvia, provides information technology (IT) networks and security services intended for Manufacturing, Telecommunication, Media, and Public sectors. The company offers a range of services including design, installation, maintenance, and management of data transmission networks, cloud computing, and IT security systems, providing clients safe and secured IT services. #Latvia #ITservices #Cloud #bigdata

mLogica agreed to acquire MD & Profy, a designer and installer of enterprise architecture. MD & Profy, based in Croatia, offers enterprise mobility, Salesforce automation, and data governance. #Croatia #SAP #Salesforce

Comping agreed to acquire Megatrend Business Solutions, a provider of business technology and IT solutions focused on artificial intelligence (AI) and data science. Megatrend specializes in business analytics, cloud services, software development, as well as installation, configuration, and maintenance of network infrastructure, workstations, servers, and storage systems. The company is based in Zagreb, Croatia. #analytics #BI #datascience #bigdata #Croatia

mLogica agreed to acquire Omni Logika, an IT consulting firm based in Serbia. Omni Logika specializes in web-based applications according to specific client requirements, SOA solutions, big data products, and solutions, as well as analytics applications. The company is an Oracle technology partner. #Serbia #Oracle #bigdata #software #analytics

Grid Dynamics agreed to acquire Tacit Knowledge, a subsidiary of Newgistics. Tacit Knowledge provides digital commerce consultancy services including web development, technology integration, content management, and application support to retail brands. #UK #Ukraine #GridDynamics #commerce #webdevelopment

OSF Digital received a $43 million investment from Delta-v Capital. OSF Digital provides global commerce and digital cloud transformation services to emerging and premier brands, and merchants. The company delivers consulting, application development, and implementation services. The company is based in Canada with offshore offices in Romania, Ukraine, and other locations in Europe. #Romania #Ukraine #commerce #digital

Riordan Lewis & Haden (“RLH”) and Salesforce Ventures agreed to acquire Astound Commerce, a Salesforce partner, and provider of digital commerce consultation. The company is based in the U.S. with an office in Romania. #Salesforce #commerce #digital #Romania

1World Online agreed to acquire Business Automatics, a Ukrainian web development firm specializing in designing websites and IT consulting including data analytics and cloud. #Ukraine #webdevelopment #ITconsulting #analytics #cloud

About 7 Mile Advisors

7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services & Technology industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. For more information, including research on the M&A markets, visit

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