Evergent Investments increased its stake in mWare Solutions to 10%

Evergent Investments has increased its holding to 10% in the software company mWare Solutions, by participating in a new round of capital increase, according to a report of the alternative investment fund published, yesterday, on the website of the Bucharest Stock Exchange (BVB).

According to the document, mWare Solutions is active in the field of artificial intelligence and Big Data, the company being advantageously positioned to benefit from the opportunities created by the technological revolution. At the end of September last year, Evergent Investments owned 5.6% of mWare Solutions, a stake valued at almost 6.12 million lei. Compared to the software company's share price at the time, the Evergent holding would now be worth 12.1 million lei, according to our calculations.

"mWare Solutions differentiates itself from local but also international companies in the deep-tech IT sector through its technological platform, which introduces the ability to analyze unstructured data within organizations, using a semantic model of data understanding based on neural networks, with capabilities native deep-learning and machine learning," the Evergent report states.

According to termene.ro, in 2022 the turnover of mWare Solutions amounted to 9.4 million lei, 73% above that of the previous year, but the company recorded a loss of 0.5 million lei, compared to a profit of 1 .47 million lei in 2021. In the third quarter of last year, mWare Solutions' business grew by 31.6% compared to the level of 2022, according to the Evergent report.

"The IT sector is one of major importance in the Romanian economy, with a weight of over 7.5% in the Gross Domestic Product. The expectations of this sector are to grow at double-digit rates in the coming years, also supported by the PNRR through component C7 - Digital transformation with a budget allocation of 1.88 billion euros", the document also states.

For the past year, Evergent Investments reported a preliminary net profit up 73% compared to the previous year, while the value of managed assets amounted to 2.95 billion lei, 25% higher than the value at the end of 2022.