Political drama unfolds after Sofia transport crisis
Sofia's buses started running today after public ground transport was paralyzed for six days, just as national graduation exams approached. Failed negotiations between the mayor and unions led to a deadlock, until GERB party leader Boyko Borissov intervened dramatically, instructing the government to allocate 15 million levs in emergency funds to raise transport workers' salaries.
Although unions ended the strike, concerns remain, as the actual funding needed for sustained wage increases is far higher and no long-term solution has been proposed. Mayor Vasil Terziev criticized the intervention as political theater, emphasizing that without structural reform and accountability, financial injections alone would not fix the systemic issues in Sofia's transport sector.
Bulgaria's Telelink acquires most of Slovenian IT firm
Bulgarian company Telelink Business Services Group announced on May 19 that it has agreed to acquire 70% of the Slovenian tech company Actual I.T., with an option to purchase the remaining 30% after three years. While the deal's final price is not disclosed, the full valuation of Actual I.T. is estimated at 22.5 million euro, suggesting an initial payment of around 15.75 million euro, subject to adjustments based on net financial position and recent revenue performance.
Actual I.T., owned by Italy's DBA Group, offers cloud services, cybersecurity, and business process optimization across Slovenia and its subsidiaries in Serbia, Croatia, Bosnia and Herzegovina. Combined revenue from these entities topped 18 million euro in early 2024, with Unistar alone contributing more than 10 million euro in the first half of the year.
Sirma's growth plan put in action
Sirma Group plans to become a leading European software company, aiming to reach over 100 million euro in annual revenue within the next two to three years. CEO Tsvetan Alexiev shared the company's ambitions during a media briefing, where he also announced plans for a listing on the Frankfurt Stock Exchange.
The company's growth strategy combines organic development of software products and system integration with acquisitions in key economic sectors aligned with its focus. Sirma currently operates in industries such as finance, insurance, transportation, logistics, healthcare, and hospitality, as well as packaging and measurement technologies.
Political drama unfolds after Sofia transport crisis
Sofia's buses started running today after public ground transport was paralyzed for six days, just as national graduation exams approached. Failed negotiations between the mayor and unions led to a deadlock, until GERB party leader Boyko Borissov intervened dramatically, instructing the government to allocate 15 million levs in emergency funds to raise transport workers' salaries.
