Czech IT giant Aricoma buys Luxembourg’s Neofacto, expands West
PRAGUE and LUXEMBOURG — Aricoma, the Czech IT provider and part of the KKCG investment group, has made a strategic move to strengthen its presence in Western Europe by acquiring Luxembourg-based software developer Neofacto.
Terms of the deal were not disclosed, but the merger is a significant step in Aricoma’s westward expansion, particularly in the Benelux and German-speaking markets.
Neofacto: A valuable addition to Aricoma’s portfolio
Ludovic Compere, CEO of Neofacto, will continue in his role, ensuring continuity and leveraging the synergies between the two companies. He stated, “We have entered a new phase in our more than 20-year history. Not only are we becoming part of a strong European IT company, but our business fits well with the work and strategy of Aricoma’s international team based in Brussels and Luxembourg.”
Founded in 2000, Neofacto has established itself as a key player in Luxembourg’s financial technology sector. With an approximately 80-person workforce, the company specializes in providing software services to financial institutions across Europe, with a particular focus on the European Investment Bank (EIB).
Neofacto’s service offerings include API programming and integration, web design, mobile app development, DevOps, business analytics, and emerging technologies such as blockchain and AI.
“The acquisition of Neofacto is a logical step for us. It strengthens our work for the European Union institutions, including the supranational EU bodies based in Luxembourg,” said Aricoma CEO Milan Sameš.
“And of course, we are delighted to welcome dozens of experienced industry professionals among us. Together we can significantly strengthen our offering to the EU institutions, authorities, and other customers in the Benelux and DACH region.”
In 2023, Neofacto reported revenues of €10.3 million ($11.3 million), serving notable clients such as ING, Spuerkeess, Foyer Insurance, and the Luxembourg Stock Exchange.
Aricoma’s expanding portfolio and market presence
Aricoma, with its headquarters in the Czech Republic, has been actively pursuing growth opportunities in Western Europe. The company offers a wide range of IT services, including:
- IT infrastructure
- Cloud solutions
- Enterprise applications
- Cybersecurity
- Public sector digitalization
- Systems integration
With over 1,600 professionals and annual revenues of €400 million ($441 million), Aricoma has already established a strong presence in Brussels, providing services to EU institutions such as the European Commission, FRONTEX, and Europol.
Michal Tománek, Investment Director and Deputy Chief Investment Officer at KKCG, added: “As we have declared recently, Aricoma has the ambition to expand into the Benelux and German-speaking markets. The acquisition of Neofacto is one of the first steps on our path to becoming a major provider of end-to-end IT services in Western Europe.”
