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QBS Technology Group has completed its latest acquisition, software distributor KSoft Korlátolt Felelősségű Társaság (KSKFT) based in Hungary as part of its plans to achieve $1bn revenue by 2030.
KSKFT was established in 1991 and is one of the oldest software businesses in Hungary. Representing vendors such as JetBrains, ShareGate, Altova, R Studio, the company claims to offer the largest portfolio of software products within the region.
Group COO for QBS Technology Group, Kumar Bhamidipati said: “The acquisition of KSKFT in Hungary aligns with our strategic growth objectives by providing access to a high-potential market in the heart of Europe. The combination of a growing IT sector, government support, skilled workforce, and strong infrastructure makes Hungary an attractive destination for our investment.
“This move allows us to extend our software delivery capabilities to Hungary backed by the full force of the Group and enables us to grow our Central and Eastern European business.”
Following the retirement of the KSKFT owner, QBS will be introducing new leadership in the form of Andrea Egrenyi as QBS Software Hungary country manager. Egrenyi holds over eight years’ service for QBS Software in the DACH region with experience of leadership roles and existing responsibilities for the Hungarian market.
Egrenyi said: “With the QBS Software team in place, we believe we have the largest dedicated software platform in Hungary. I look forward to acting on my ambitions of growing the business significantly over the next decade.”
Bhamidipati added: “Aside from the immediate sales opportunities in Hungary, the new acquisition enables QBS Technology Group to deepen its foothold in the Europe market and better serve the partner community. Being physically present in the market instead of operating virtually from offices in London or Munich, we can build stronger partner relationships and act with agility to market demands.
“The strategic fit with KSKFT works for us on multiple levels and we are incredibly optimistic about building on the great work of Imre and his team over the last 33 years.”
This news comes as part of a string of strategic acquisitions made by QBS Technology Group over the past 12 months including InfoNet in Turkey and Maxtec in South Africa extending the Group’s reach into the META region.
