Zagreb, Croatia, 9th January 2021 Bulb Technology announced strategic partnership with M+ Group (Meritus ulaganja d.d. – ZSE:MRUL).
M+ Group has invested in Bulb the regional leader in a digital process automation and user experience management. M + Group, through its subsidiary Meritus Management d.o.o., will acquire 51 percent ownership of Bulb Technology. The value of the share acquired by the M + Group is estimated at EUR 7 million.
South Central Ventures invested in Bulb in 2017 with the aim of supporting the global expansion of CEMPRESSO and Bulb’s suite of proprietary products. Bulb has become one of the leading providers of CEM / customer support automation solutions for telecom operators globally and is a key enabler for the coming IoT boom. In recent years, the company has also started to expand to different non-telco companies in the European market.
„Bulb is on an impressive journey to become one of the leading companies in the process automation industry in the region. We’re excited this value has been recognized by M+ Group and I believe the partnership between the companies will result in accelerated growth of Bulb and consequently in an increased value for all the shareholders. South Central Ventures remains an active partner in the company and will assist the company on it’s future growth, “ said Jure Mikuž Managing Partner in the South Central Ventures fund.
„We believe that the result of this strategic cooperation between Bulb and M+ Group will be a significant acceleration of Bulb’s development. In the past period, Bulb has gained strong references in the regional market as a company that delivering advanced and reliable software solutions from the CEM segment. The strategic cooperation with M+ Group, in addition to further funding of development activities, will provide us with access to international markets as well as direct access to over 260 existing clients in 58 global markets where M+ Group operates. Over the next three to five years, in addition to significant revenue growth, we aim for Bulb to becoms a strong international software company that is a leader in process digitization and user experience management segment,“ said Vedran Rezar, Bulb’s CEO.