Modirum Acquires Majority Share of ITgma – Paving the Way for Global Expansion

30 April 2024

Modirum Acquires Majority Share of ITgma

Modirum acquires a majority share of ITgma – Marking a New Era of Growth and paving the way toward becoming global provider of software solutions and services

Modirum, a leading technology and platform company dedicated to innovation and growth, proudly announces its acquisition of majority stake at ITgma, one of the leading Software and IT services providers in South-East Europe. This strategic move represents a significant milestone for Modirum as it embarks on establishing a Platform Company across business sectors such as Critical Communications, Finance, Telecom, and Energy.

New chapter for Modirum

Tero Silvola, CEO of Modirum, remarked, “Modirum is a forward-thinking growth company with over two decades of experience. Acquiring ITgma grants us access to pivotal markets, especially in Telecom and Finance, across targeted geographies. ITgma epitomizes entrepreneurial excellence and energy, with four founders who have meticulously cultivated a thriving their company. We are excited to unite forces and continue this journey together – ensuring the success of Modirum.”

Modirum is now poised for accelerated growth, primarily targeting the DACH region, Nordics, Balkans, and the Middle East. Our vision for 2027 is to lead the category in these markets.

Jari Heikkinen, Chairman and Founder of Modirum, highlighted the strategic direction, stating, “Modirum is positioned to lead in three key sectors: Defence Sector Platforms, Banking and Payment Platforms, and Industry Platforms. Each of these business areas will be spearheaded by their own company structure, equipped with tailored strategies and top-tier executive teams. The first acquisitions within our Industry Platforms business were completed in 2023 through partnerships with Cloudriven Oy (Finland) and WebFactory (North Macedonia). In the Defence Sector we acquired a majority stake of the technology leader NSION Technologies, which is now operating under Modirum Security Technologies. While the ITgma transaction focuses on the Industry Platform Sector, we continue to leverage synergies within our other evolving Modirum business units.”

Partnership for Innovation and Growth

Filip Petkov, Managing Director of ITgma, shared his enthusiasm about the partnership, stating, “Modirum represents the ideal partner and platform for our growth trajectory. With shared values and a highly motivating mission, we are committed to ensuring the organic and inorganic growth of Modirum. ITgma’s team of over 125 specialists, expanding revenue streams, and profitable operations predominantly in Europe and the Middle East, is dedicated to delivering value. Together, we aim to excel as a true deep technology company, leveraging AI-driven scalable platforms and services.”

The Partnership of ITgma underscores Modirum´s dedication to innovation and expanding its footprint in critical sectors. With a total addressable market exceeding €25 billion in Critical Communications, Telecommunications, and Energy sectors, Modirum Platforms is positioned for remarkable growth.

This strategic alliance harnesses the combined strengths and expertise of both companies to deliver cutting-edge solutions and drive sustainable growth in the AI- driven digital era. This year marks the formalization of the structure and branding for each of the three businesses within the Modirum family.

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Media Contacts

Tero Silvola,
CEO, Modirum
+358 40 590 5733

Filip Petkov,
Managing Director ITgma
+389 70 377 757

Vlado Galevski
Chief Market Officer, Modirum Group
+43 664 977 1444

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