Posted on
28 | 01 | 2009

HERMES SoftLab, member of the ComTrade Group, has taken over Insoft and thus become the leading provider of solutions for financial institutions in Bosnia and Herzegovina

28th January, 2009, Sarajevo – HERMES SoftLab Sarajevo today published its acquisition of Sarajevo-based company Insoft, which is a leading IT securities trading solutions provider in Bosnia and Herzegovina. Its acquisition has helped HERMES SoftLab to supplement and strengthen its portfolio of solutions for financial institutions, which represents one of the strategic cornerstones of the company’s operations.

The decision to take over the company goes in line with the strategy of HERMES SoftLab and the entire ComTrade Group, which anticipates enhanced business in the field of development and sales of IT solutions in the Adriatic region. The main reasons behind the acquisition of Insoft lie in the fact that the company has developed an IT investment banking solution, holding down a quality customer base in Bosnia and Herzegovina and Macedonia, as well as possessing top-level domain knowledge in the field of developing solutions for financial institutions.

By integrating the investment banking solution, HERMES SoftLab has strengthened its own portfolio of solutions for financial institutions and has thus become the leading provider of such solutions on the Bosnian market, as well as one of the providers offering banks and stock broking companies a full range of solutions on the markets of the Adriatic region.

Haris Čečo, Managing Director of HERMES SoftLab Sarajevo: »The acquisition of Insoft sees HERMES SoftLab become the leading provider of solutions for stock broking companies in Bosnia and Herzegovina. Solutions of HERMES Softlab and InSoft combined represent a holistic range of solutions required for management of stock broking companies, banks and other financial institutions. The solutions we have acquired by taking over Insoft will also be made available to our customers abroad through other companies of the HERMES SoftLab Group. Insofts customers, of whom there are over 25, will be guaranteed further development and reliable technological support.«

Vedim Hakirević, founder and director of Insoft who took over new position at HERMES SoftLab as Business Developer Manager for investment banking solutions stated: »InSoft possesses expert knowledge and leading technological solutions in the field of investment banking and brokerage IT support systems. Combined with existing solutions from Hermes SoftLab and significant technological, human, economical resources possessed by the ComTrade Group, we have paved the way to create a unified and very powerful investment banking solution. This solution is highly competitive for corporate clients and represents a base for further expansion in the Adriatic region.«

HERMES SoftLab provides companies operating in financial services with solutions for e-trading, consulting services, implementation of partner solutions, and development of custom applications, including legacy migration.

Select customers of Insoft in Bosnia and Herzegovina include: Raiffeisen Brokers Sarajevo, Hypo Alpe-Adria-Bank Banja Luka, Eurohaus Sarajevo, Unicredit Banja Luka, Hypo Alpe-Adria-Vrijednosnice Sarajevo, Volks Bank Banja Luka, AW Broker Sarajevo, Raiffeisen Capital Banja Luka, SEE Investment Solutions Sarajevo.