The joint company of UFuture and InSoft Partners has announced rebranding and invested in two IT-businesses
InSoft Software has bought stakes in two IT-outsourcing companies and changed its name to ITernal Group.
Kyiv, November 11, 2019. — InSoft Software has increased its share in the service direction of the Kharkiv IT-company, Rozdoum, and has become one of the shareholders of the Kyiv IT-company Rademade. Therefore, currently, the investment portfolio of InSoft Software consists of three companies: Lenal, Rozdoum, Rademade.
InSoft Software also announced the change of its name to ITernal Group. Among the reasons for rebranding, the representatives of the company say about the expansion of the range of services, a change in the logic of positioning, and feedback from customers.
ITernal Group provides turnkey solutions on software development, strengthens customers’ teams with its developers, and helps foreign clients open R&D offices in Ukraine (by purchasing small companies, hiring employees, renting offices, and assisting with further service). The company is actively developing both organically and with the help of M&A strategy, consolidating controlling stakes in IT-companies.
“The creative economy of Ukraine is developing dynamically. The amount of investments and the number of startups in this industry are growing rapidly. According to experts, revenues in the Ukrainian IT-sector will amount to about $5 billion in 2019. We and our partners are convinced that ITernal Group will take a worthy place in the market and will contribute to the development of the innovative economy of Ukraine,” Vasyl Khmelnytsky, Founder of UFuture, said.
“The IT-outsourcing market has changed a lot, it has become mature. It’s getting more difficult for small companies to compete with big players in attracting contracts, customers, and employees. Therefore, offer differentiating is getting more important. We focus on ecosystem solutions. Being able to integrate small companies into one structure while preserving the brands and unique culture of the companies, we are quickly building a major player, and thus gaining the ability to attract more significant customers. On the other hand, our clients’ conversion is improving thanks to the wide range of the services provided by ITernal Group. In addition to the classic software development, we and UFuture bring M&A experience, access to a large innovative IT-school, and the most modern real estate for our clients”, Vitaly Gorovoy, Managing Partner of InSoft Partners, emphasized.
In the summer of 2019, UFuture and InSoft Partners entered into a strategic partnership agreement in IT-industry and established a joint company.
Within this business, InSoft Partners is responsible for the search and purchase of controlling stakes in IT-companies, their integration into one structure, strategic management, and development. UFuture contributes to the organic growth of the joint business and the search for strategic partners through the international network of contacts.
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects. The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $550 million, and the total capitalization of the businesses it invested in is more than $1 billion.
InSoft Partners is a niche investment managing company that focuses on IT-business. Having a team with extensive experience in the development of IT-companies, InSoft Partners joins the operating activities of portfolio companies, contributing to their active growth (through lead generation, changing business processes, etc.). Among the counterparties of InSoft Partners are the famous American investment fund, Oak Tree Capital Management, and FinPoint/Rothschild&Co.