The Greek IT market is experiencing an unprecedented period of mobility, with the landscape constantly shifting as the barrage of mergers and acquisitions continues at full speed.
Already in the first half of the year, deals have reached double digits, while since the beginning of summer, six major moves have taken place, with the pace expected to continue until the end of the year.
With the “sand running out of the hourglass” of the Recovery Fund, the Greek IT market is transforming into a mature, outward-looking ecosystem aiming to claim a strong position on the European technology map, as companies add new weapons to their arsenal.
Although the “mega deals” of previous years are missing, both large and smaller players in the market are pursuing a series of acquisitions and mergers that do not simply resemble a temporary “explosion” of investment activity, but rather a deeper strategic shift of industry players toward verticalization, strengthening technological capabilities, and international consolidation.
They are moving forward with acquisitions that are not only aimed at increasing market share but are focused on acquiring know-how, entering new technological fields, and geographical expansion. “Hot” sectors such as Artificial Intelligence (AI), cybersecurity, enterprise software, fintech and other banking technologies, digital transformation, and now Defense have taken center stage in the strategies of IT companies.
In addition, major groups such as Profile, Epsilon Net, Uni Systems, and Performance have already announced investment plans worth several million euros for new acquisitions, with the next three years expected to be “hot” as Greece takes on the role of a regional technology hub.
The major players
The year 2024 was marked by big deals such as those involving Entersoft and Epsilon Net, while more than 50 acquisitions and agreements have been completed in the sector over the past three years. Large groups have also announced that they are considering moves to strengthen their position, while many IT companies have their sights set abroad as well.
Q&R, backed by shipowners and emerging as a rising force, fueled by the €19.1 million it raised through a bond loan, is proving to be one of the most active players, having already carried out four acquisitions in 2025. Its moves range from cybersecurity with the acquisition of 60% of SysteCom for €1.5 million in January, to artificial intelligence with the purchase of 51% of Squaredev BV for €1.1 million, to specialized SAP solutions through the acquisition of 76.2% of Alexander Moore and 51% of AlphaCons ITS, for a total consideration of €3.14 million.
In the most recent moves, Entersoft–SoftOne acquired a majority stake in Simply, strengthening its presence in retail and expanding its portfolio in a market expected to be strongly impacted by e-invoicing and digital payments. The two companies, now under the Olympia Group umbrella, have announced further investments over the next three years.
Qualco has also moved forward with acquisitions targeting cybersecurity and digital transformation technologies, as part of expanding its portfolio. It began the summer with the acquisition of Empedus, a provider of enterprise transformation technology solutions, for €7 million, followed by the acquisition of 50% of Cenobe, a cybersecurity company, for €1.235 million.
Real Consulting, which is planning to move to the Main Market of the Athens Stock Exchange, made an important step abroad in opening up new markets with the acquisition of 95% of Romanian Smart UX Development for €2.736 million, gaining access to the utilities market of Southeastern Europe.
As its management has emphasized, Real Consulting has its sights set both domestically and internationally, while also aiming to expand into other sectors in order to maintain strong growth rates in the coming years.
Softweb, also listed on the Alternative Market of the Athens Stock Exchange, entered the digital marketing sector with the acquisition of 70% of Vitamin Media, seeking to expand its services in digital transformation. Its management has stressed that the company is keeping its radar open for further acquisitions to broaden its portfolio and expand its expertise.
Internationally, Netcompany completed the acquisition of SDC, a provider of banking solutions in the Scandinavian countries, strengthening its Greek subsidiary and fintech profile.
At the same time, new moves are in the pipeline, with Performance Technologies — which acquired 28% of GAINConsulting in the first quarter of the year and holds a “war chest” of about €20 million — being in advanced talks for the acquisition of a Greek artificial intelligence company.
Profile, aiming to triple its revenues by 2028, is also targeting 2–3 acquisitions over the next three years, with a focus on the UK market, seeking to expand both geographically and in terms of its product portfolio.
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