Bianor and TechniData Germany Establish Joint Venture

Sofia, February 19th, 2008

Bianor Services Ltd and the German company TechniData AG signed an agreement for establishing a joint venture – TechniData Labs Bulgaria Ltd, on February 19th, 2008. Bianor Services will hold 51% of the new company.

TechniData Labs Bulgaria will be a development center for the leading environmental compliance management solutions of the German company, which is a strategic development partner for SAP. More than 1300 customers in 59 countries rely on TechniData’s compliance solutions.

“Bianor showed a high level of expertise in our cooperation in the last few months. The processes are very well developed and will be very useful for the effective work of TechniData Labs Bulgaria”, Michael Kohl, CEO of TechniData Labs shared. “I believe that together we will manage to attract very experienced professionals and will offer them excellent opportunities for further development”, he added.

“Our partnership with a world leader such as TechniData is an honour for us and in the same time a high evaluation of our work”, Stefan Lilov, CEO of Bianor Services said. “TechniData Labs Bulgaria will gather the best of us and our partner’s experience. I expect that the joint venture will bring significant value both to our German partners and Bianor Group”, Lilov added.

The start of the activity of TechniData Labs Bulgaria is scheduled for April with a team of 10 experts that will become 25 by the end of 2008.

Chief Executive Officer of the new company will be Michael Kohl who has been working for TechniData for 12 years and currently is a vice-president of the company. The procurator in the new company will be Stefan Lilov, CEO of Bianor Services.

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