Irina Socol: Siveco business will exceed EUR 100 M in coming years

After buying back company shares owned by Intel Capital and Enterprise Investors (EI) through a transaction valued at least EUR 11 million late last year, the management at Siveco estimates the software producer could reach a EUR 100 million turnover within several years, Irina Socol, co-founder, CEO, and Company President, stated. “We want a 10 to 15 per cent annual increase,” she said. Irina Socol and Alexandru Radasanu, the company’s co-founders, along with three other members of the management team, took over the 32.5 per cent shares package owned by Intel and EI, after Raiffeisen Bank offered them funding amounting to USD 14.7 million (approximately EUR 11 million). At present, Siveco has a “solid” balance of signed contracts and future perspectives indicate growth. Thus, the company is not facing indebtedness. “We are not nervous,” Irina Socol said.

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