The Span IT company has acquired the Ekobit software company for about 37.4 million kuna, which additionally strengthens its market position since its listing on the Zagreb Stock Exchange six months ago and allows it to further expand its business and grow, the company said on Tuesday.

The acquisition of Ekobit, which primarily exports its services to Western European countries, means that Span is expanding its business, particularly to the DACH region (Austria, Germany, Switzerland). Ekobit will continue to operate with the current management board as an independent business entity within the Span Group, Span explained.

Span is one of the leading IT companies in Croatia and has been on the market for the past 29 years. The company currently employs 603 experts and is one of the leading IT exporters, achieving three-quarters of its revenue on foreign markets. Operating in cooperation with 40 international partners, Span does business with more than 1,200 users.

The Zagreb-based Ekobit is one of the leading software development companies and currently employs 70 experts. It has two offices, one in Zagreb and the other in Varazdin. More than 70% of Ekobit’s revenue is generated on the Western European market, a press release said.