The deal, which has today been approved and completed, will grow and expand Zenitech’s operations in Hungary.
London/Miskolc, 1 September 2022 – Zenitech, the UK-based transformational technology company, has today acquired AutSoft, the Budapest-based technology focused software development company that was originally founded at the Budapest University of Technology and Economics, and was partly owned by the university until the end of 2014.
Zenitech’s intention to buy AutSoft was announced in May, and the acquisition has now been completed, having gone through regulatory approvals.
Background information on the deal, which was announced in May
The deal is part of a strategy by Zenitech to grow and expand its operations in and commitment to Hungary. Last year it launched a technology centre in Miskolc.
AutSoft was originally founded at the Budapest University of Technology and Economics (BME), and grew to the 150-strong team it is today. It continues to work closely with BME on high-profile and pioneering R&D projects, as well as on innovative commercial projects for enterprise customers, particularly in the banking and financial services sector. The deal binds Zenitech to one of the best technology universities in Europe, allowing it to work with a wealth of talented engineers and professors from the university who will provide thought leadership, R&D and access to cutting edge technical prowess to support Zenitech’s clients.
“Hungary is a key strategic location for us because of its central position within Europe and its access to some of the best technology talent in the region. This deal will allow us to deliver complex technology projects for an international and local client base,” said Ed Batrouni, director and joint CEO of Zenitech.
“This deal is a perfect fit of two companies that share the same vision and have complementary skillsets,” said Christopher Lacy-Hulbert, director and joint CEO, Zenitech. “AutSoft has a fantastic team of skilled developers and has its roots in technology innovation. Zenitech focuses on the creation of innovative technology to transform clients’ businesses. Together, our proposition for our clients is made even stronger.”
“The deal with Zenitech is an excellent opportunity for AutSoft,” said Hassan Charaf, one of the founders of AutSoft. “It cements our future as leading the way in development and innovation, and will expand our capabilities into a global market, giving our team the opportunity to work with international clients under the umbrella of an organisation that is growing and successful.”