Sasho - Wiser

The Serbian Software Development Company Badin Soft Joins Wiser Technology

October 10, 2024November 7, 2024 by Sasho

In brief

Wiser acquire 100% of the Serbian software developer Badin Soft
This transaction strengthens Wiser’s capabilities in the financial and telecom sectors
Wiser’s 2024 pro-forma consolidated revenues are expected to exceed €30M

Sofia, Bulgaria, October 10th, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, acquired 100% of the Serbian software development company Badin Soft. As a result of the transaction, the original founders of Badin Soft and other key team members will become shareholders in Wiser Technology.

Badin Soft is headquartered in Niš, Serbia, and employs over 100 highly skilled software engineers and consultants. The company serves clients in the Financial Services and Communications sectors, including prominent organizations such as BlackRock, Raiffeisen Bank, Telecom Serbia, and Inspira Group.

“We share a common vision with Wiser Technology, and together, we will push the boundaries of innovation in the software development industry.“
Božidar Ignjatović, CEO of Badin Soft

This transaction further enhances Wiser Technology’s expertise in delivering high-quality solutions to the financial services and telecommunications sectors, including to top-tier international clients.

With this transaction, Wiser Technology’s 2024 pro-forma consolidated revenues are expected to exceed €30M. The company continues its path to becoming a leading software services provider from Central and Eastern Europe. Wiser Technology is pursuing a growth strategy to diversify its delivery capabilities in the region while also gaining direct access to enterprise clients in key target markets, including the U.S., U.K., and DACH.

“I’m thrilled to welcome our colleagues from Badin to Wiser Technology. They are a remarkable team of experienced professionals, and I look forward to working with them in Wiser. Their comprehensive expertise in financial services and communications will strengthen Wiser Technology’s position in those key verticals and enable us to deliver even more value to our clients,” said Kosta Jordanov, CEO of Wiser Technology. ”I would like to extend my gratitude to the Badin team for their shared vision of Wiser Technology’s future and to our key shareholder, BlackPeak Capital, for their support throughout the entire transaction,” added Jordanov.

“This acquisition is a testament to the dedication and expertise of the entire Badin Soft team. Becoming part of Wiser Technology enables us to broaden our capabilities, enter new markets, and continue providing exceptional solutions to our clients,” said Božidar Ignjatović, CEO of Badin Soft. “We share a common vision with Wiser Technology, and together, we will push the boundaries of innovation in the software development industry. We’re excited about the future and look forward to what we can achieve as part of the Wiser family,” added Ignjatović.

“We are enthusiastic to join forces with Wiser Technology. This partnership marks a significant milestone for Badin Soft, and together, we will unlock new growth opportunities,” said Dušan Cvetković, CTO of Badin Soft. “Our team’s in-depth experience and commitment to excellence align perfectly well with Wiser Technology’s vision, and we look forward to contributing to Wiser’s expansion. By joining Wiser Technology, we’re confident that we’ll further enhance the value we bring to our clients and the industries we serve,” said Cvetković.

Wiser Technology’s mission is to empower visionary companies to drive positive change through technology. Wiser Technology’s clients and partners include Airbus, Leonardo, Indra, IBM, IAV, UniCredit, ProCredit, EMAAR, Nokia, DirecTV, Bosch, and Legrand. Wiser Technology partners with the world’s leading technology companies, including IBM, Amazon, Google, Microsoft, SAP, McKinsey Digital, and E&Y Digital.

Earlier this month, Wiser Technology (BSE: BNR) announced moving to the Premium segment of the Bulgarian Stock Exchange and in the process of finalizing a €12.3M capital increase from the public markets to support the company’s further expansion.

About Wiser Technology wisertech.com

Wiser Technology (BSE: BNR) designs, builds and operates advanced mission-critical software solutions for the world’s leading organizations. The company delivers technology innovation, extensive domain expertise, and engineering excellence to its customers in the automotive, aerospace & defense, telecommunications, and financial service industries.

Wiser Technology delivers exceptional services from its multiple delivery centers in Bulgaria, Serbia, and Greece, with a team of over 600 leading software engineers and computer scientists. It employs ISO 9001/20001/27001, NATO AQAP 2110/2210, and TISAX-certified processes. The company is headquartered in Sofia, Bulgaria, listed at BSE, and operates an NY-based US consulting office.

About Badin Soft www.badinsoft.com

Badin Soft is an IT company based in Niš, Serbia, specializing in software development and offering services globally. Badin’s expertise spans various sectors, including banking, finance, loyalty programs, telecommunications, and multimedia systems. By utilizing cutting-edge technologies, Badin fosters a collaborative environment to create value for both its developers and clients.

Badin’s motto, “It’s all about people,” highlights that its greatest asset is its talented team. With more than 100 successful projects under its belt, Badin is dedicated to cultivating long-term partnerships and delivering high-quality software solutions tailored to meet client needs.

About BlackPeak Capital www.blackpeak-capital.com

BlackPeak Capital was established in 2014 and targets growth equity investments of €5-15 million in fast-growing SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. Its second fund, BlackPeak Southeast Europe Growth Equity Fund, focuses on partnering with the region’s outstanding entrepreneurs who aim to build world-class companies through continued innovation, organic growth, and add-on acquisitions. BlackPeak Capital remains committed to making a significant positive economic, social, and environmental impact.

BlackPeak Southeast Europe Growth Equity Fund is backed by the European Investment Fund under the COSME and JEREMIE programs, the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament, Invest BG, the EBRD, the IFC, and other European private institutional investors.

Wiser Technology to Raise €12.6M via IPO

October 1, 2024November 7, 2024 by Sasho

In brief

Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE)
Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share
Since the beginning of 2023, Wiser has raised over €14.3M

Sofia, Bulgaria, September 5ht, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE). This approval marks the commencement of the capital increase process. An indicative schedule is available at the end of this announcement, and the final schedule will be released upon approval by the BSE.

Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share. If fully subscribed, this capital increase will bring in €12,6M and increase the total number of company shares to 16,386,844.

Sofia International Securities has been appointed as the lead arranger for this offering.

“We are pleased to see considerable interest from investors, with close to €11M already committed.“
Kosta Jordanov, CEO at Wiser.

Since the beginning of 2023, Wiser has raised over €14.3M through an initial public offering on the BSE. The capital increase has facilitated six acquisitions, boosting the company’s pro forma consolidated revenues to €13.8M for the first half of this year – an increase of more than nine times compared to the same period last year.

“We are pleased to see considerable interest from investors, with close to €11M already committed,” said Kosta Jordanov, CEO of Wiser. “The proceeds from this capital increase will be used for acquisitions in Western Europe and to cover bridge financing used for the acquisition of Digital Lights earlier this year,” Jordanov added.

Wiser’s management invites the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. The meeting will provide further details on the company’s strategic plans, as well as the objectives and parameters of the upcoming capital increase. Participants will have an opportunity to engage directly with the management team. The meeting will be held in English and is open to all interested parties upon registration [here]. Additionally, it will be streamed live on the company’s YouTube channel.

Capital Increase Actual Schedule >>>

Complete Digital Transformation for Mashreq

September 27, 2024January 22, 2025 by Sasho

Client at a glance

Digitizing the Future of Banking

Through advanced architecture, seamless collaboration, and rapid digitization, Mashreqbank is transforming customer experiences across all channels. By reducing reliance on legacy systems and introducing scalable solutions, we enabled Mashreq to maintain its leadership in the competitive financial sector while setting a new benchmark for digital innovation.

Challenge

Mashreqbank PSC, the UAE’s oldest privately-owned bank, launched an ambitious initiative to completely transform all its customer-facing channel applications. The scope included digitizing their Mobile Banking, Desktop Banking, Credit Cards Marketing, KYC, and Branch Service Tablet applications.

The initiative faced several challenges:

Time Constraints: The MVP phases for all applications were planned to roll out simultaneously within one year—a tight timeline for such a large-scale transformation.
Complex Collaboration: With over 40 team members spanning multiple vendors, in-house squads, and McKinsey Digital, seamless communication and alignment were essential to deliver the project on time.
Legacy Infrastructure: The existing middleware (ESB) exposed functionalities to all applications, creating bottlenecks and latency issues that could impact performance.
Performance and Scalability: The architecture needed to handle high traffic, ensure security, and support future growth while detaching from legacy dependencies.

Our Approach

To address these challenges, we focused on creating a unified backend infrastructure and delivering an MVP for the Branch Service Tablet application.

Key actions included:

Backend Transformation:
- Developed a scalable, modern backend using Java Microservices with the Spring Framework and Spring Cloud, following Domain-Driven Design (DDD) principles.
- Addressed performance issues with the legacy middleware by implementing the CQRS pattern and efficient caching at the backend layer.
- Introduced two intermediary layers to streamline communication with the ESB, reducing bottlenecks and improving system performance.
Automated CI/CD Pipelines:
- Implemented deployment pipelines for Continuous Integration (CI) and Continuous Delivery (CD), enabling autonomous deployment of microservices in staging and production environments.
Digitization of Branch Services:
- Developed the MVP for the Branch Tablet Application, digitizing and automating over 50 service journeys in just three months, including:
  - Funds Transfers
  - Print Statements
  - Transaction Dispute Requests
  - Cheque Book Requests
  - Card Replacement
  - Account Closure (reduced from one week to minutes)

Impact Delivered

Scalable Backend Architecture: Delivered a unified backend for all frontend channels, reducing dependency on legacy infrastructure and enabling future expansion.
Enhanced Development Efficiency: CI/CD pipelines improved the development process, enabling faster, independent deployments.
Accelerated Service Delivery: Automated over 50 customer-facing service journeys, improving operational efficiency and customer satisfaction.
Successful MVP Launch: Deployed the MVP Branch Tablet Application at Dubai Mall, marking the first step in Mashreq’s digital transformation journey.

Expertise and Scope

Deliverables: Fully-featured MVP Branch Tablet Application
Technology Stack: Java 8, Spring Framework (Boot, Batch, Cloud, Redis), RabbitMQ, MSSQL, React Native, Azure DevOps
Team: 5 Backend Developers, 4 Frontend Developers

Wiser Technology Enters the Stock Market Index of the 30 Largest Bulgarian Public Companies

September 25, 2024November 7, 2024 by Sasho

In brief

Wiser Technology, enters the BGTR30 index of the Bulgarian Stock Exchange.
Wiser is among the 40 most traded companies on the Bulgarian Stock Exchange.
Listed on the Premium segment of the BSE.

Sofia, Bulgaria, September 25th, 2024 – With the September 2024 rebalancing of the stock market indices, Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, enters the BGTR30 index of the Bulgarian Stock Exchange (BSE), featuring the thirty largest companies by market capitalization.

In March this year, Wiser entered the index of the forty most traded companies on the Bulgarian Stock Exchange, BGBX40, and has been consistently one of the most traded stocks since. On September 16th, Bianor became the tenth company listed on the Premium segment of the BSE.

Over the past twelve months, the company revenue grew 192%, the market capitalization 209%, and the share price 86% to €3.07 per share. Wiser Technology is currently raising up to €12.5M through a new capital increase via the Bulgarian Stock Exchange to continue its expansion.

Coding for a Safer World

September 20, 2024January 22, 2025 by Sasho

Client at a glance

A Legacy of Global Security

For Wiser, participating in NATO AGS was more than a technical challenge—it was an opportunity to contribute to a mission that strengthens global security. As one of the youngest NATO member countries, this project was a milestone, not just in technical achievement but also in the emotional satisfaction of helping build a safer world for future generations.

Responding to Modern Threats with Advanced Surveillance

The NATO AGS program, with a $1.7 billion budget, represents one of NATO’s largest and most comprehensive surveillance initiatives. Built around five Northrop Grumman RQ-4D aircraft and an integrated Ground segment, AGS provides the Alliance with unrestricted access to persistent surveillance data in near-real-time. This seamless system strengthens NATO’s ability to respond to global challenges with precision and agility.

Our Role in a Multinational Effort

Wiser was one of two Bulgarian companies selected to contribute to NATO AGS, collaborating with prime contractor Northrop Grumman and major subcontractors, including Leonardo. By navigating the unique challenges of NATO standards and stringent security protocols, Wiser delivered solutions that met the program’s high demands and contributed to a safer world.

“Wiser proved to be a trustworthy partner, which we recommend for other projects as well. Their team is highly professional, diligent, and great to work with.“
Franco Berretti, Program Manager, NATO Programmes at Leonardo

Challenge

In a world increasingly characterized by security challenges—including crises in Europe, the Middle East, and North Africa, as well as global natural disasters—NATO faced the need for timely and coherent intelligence. The Alliance Ground Surveillance (AGS) program, one of NATO’s most ambitious initiatives, aimed to deliver unrestricted, near-real-time access to wide-area terrestrial and maritime surveillance data. This required a robust software infrastructure capable of processing and managing massive amounts of data while adhering to NATO’s stringent standards.

Our Approach

As part of the NATO AGS initiative, Wiser developed mission-critical software to support the Ground segment at the Main Operating Base in Sigonella, Italy. Our work focused on enabling seamless integration between airborne radar systems and ground stations, ensuring the secure and efficient handling of motion and imagery data streams.

Key contributions included:

Data Stream Processing: Developed a software module capable of processing multiple simultaneous data streams received by the Front End Processor from external sources such as aircraft and ground radars.
Metadata Extraction: Designed functionality to extract metadata and telemetry information from synchronous feeds, converting it into engineering data structures for storage, management, or visualization.
Standards Compliance: Delivered solutions adhering to NATO standards (STANAG 7023 & STANAG 4609), ensuring interoperability and alignment with Alliance requirements.
Visualization Tools: Created tools to support real-time visualization of up to 12 simultaneous video streams and geoTIFF decoding, enhancing situational awareness.

Impact Delivered

Enhanced Situational Awareness: Improved in-theatre intelligence capabilities, enabling effective decision-making in complex environments.
Real-Time Data Processing: Delivered uninterrupted handling of mission-critical information, supporting NATO’s response to diverse challenges, including military conflicts, humanitarian crises, and disaster recovery.
Scalable Architecture: Provided a robust software infrastructure capable of managing massive data loads under stringent security requirements.

Expertise and Scope

Deliverables: Software decoders, video visualization tools, and geoTIFF decoding
Technology Stack: Java, C, C++, C#, NATO STANAG 7023 & STANAG 4609

Wiser Technology Secures a Strategic Contract with the European Defense Agency

September 19, 2024November 7, 2024 by Sasho

In brief

Bianor Services, a subsidiary of Wiser Technology (“Bianor Holding” AD) (BSE: BNR), has signed a strategic contract with the European Defense Agency (EDA)
The latest contract is for the E2C (European Command and Control System) project, financed by the European Defense Fund (EDF)
The E2C project spans 24 months, with a total consortium value of €47M. INDRA

Sofia, Bulgaria, September 19th, 2024 – Bianor Services, a subsidiary of Wiser Technology (“Bianor Holding” AD) (BSE: BNR), has signed a strategic contract with the European Defense Agency (EDA) as part of a consortium led by the defense industry leader – INDRA.

Since 2020, Bianor Services has been a key participant in seven projects supported by European Commission programs, aiming to enhance defense and security cooperation in Europe. Currently, the company is actively engaged in five of these projects. Among the main R&D topics is enhancing cybersecurity through AI-based technologies.

“We are honored that a prominent defense industry contractor, such as INDRA, has again invited us to join them.“
Kosta Jordanov, CCO at Wiser.

The latest contract is for the E2C (European Command and Control System) project, financed by the European Defense Fund (EDF). E2C is a follow-up to the ESC2 (European Strategic Command and Control System), initially launched in 2020 with funding from the European Defense Industrial Development Program (EDIDP). The E2C project spans 24 months, with a total consortium value of €47M. INDRA, the Spanish defense industry leader, is the project coordinator. Other consortium participants include industry and defense forerunners such as the Italian Leonardo and the Bulgarian Defense Institute, as well as entities from Austria, Germany, Denmark, Estonia, the Netherlands, and Portugal.

“We are honored that a prominent defense industry contractor, such as INDRA, has again invited us to join them,” stated Spartak Kabakchiev, CCO of Wiser Technology. “We believe that the synergy within the Wiser group will enable us to contribute significantly to such large-scale projects, providing enhanced value to our partners and reinforcing European security,” Kabakchiev added.

The EC2 project is pivotal for supporting operations and missions under the European Union’s Common Security and Defense Policy. It aims to deliver a multifunctional command and control solution, ensuring centralized management of operational capabilities and interoperability across all government institutions. The project scope includes research, design, prototyping, and system testing.

Wiser’s mission is to empower visionary technologies to drive positive change in the surrounding environment and our everyday life. The company aims to be among the leading European software services vendors, delivering technological innovation, specialized knowledge, and engineering excellence. Among the top-tier Wiser’s clients are Airbus, Leonardo, Indra, IBM, IAV, UniCredit, ProCredit, EMAAR, Nokia, DirecTV, Bosch, Legrand. The company partners with technology leaders such as IBM, Amazon, Google, Microsoft, SAP, McKinsey Digital, and E&Y Digital.

About the European Defence Fund

The European Defence Fund (EDF) is an EU program that supports companies across the Member States in developing competitive and collaborative defense projects that deliver innovative and interoperable defense technologies and equipment. EDF provides financial support for the R&D of defense-related products and technologies throughout their entire life cycle – from research to prototype development, testing, attestation, and certification.

Mobile Corporate E-Banking App for First Abu Dhabi Bank

September 18, 2024January 22, 2025 by Sasho

Client at a glance

Reimagining Corporate Banking for the UAE’s Largest Institution

With the launch of a next-generation mobile banking app, FAB has reinforced its position as a leader in corporate banking innovation. The partnership with Wiser enabled FAB to expand its digital capabilities, delivering a world-class user experience and setting a new standard for omnichannel banking in the region.

Challenge

First Abu Dhabi Bank (FAB), renowned for its innovation and security, sought to enhance its mobile presence for corporate customers. While FAB already had a robust web banking platform, its existing mobile app lacked the comprehensive functionality and modern design required to meet the needs of SMEs and decision-makers.

The challenges included:

Limited Mobile Functionality: The app offered only a few core banking features, leaving a gap in functionality compared to the web version.
Outdated Design: The mobile interface needed a significant overhaul to deliver a modern, user-centric experience.
Fragmented Customer Journey: Interruptions in the user journey made the banking process feel lengthy and frustrating, diminishing the customer experience.

FAB’s goal was to provide a seamless, omnichannel experience that empowered corporate users to manage global transactions anytime, anywhere.

Our Approach

To address FAB’s needs, we partnered with the FAB Innovation Lab to design and deliver a fully-featured, next-generation mobile banking app for corporate customers.

Key actions included:

Modernized Design: Revamped the app’s user interface (UI) to create a visually appealing, intuitive, and engaging experience tailored to corporate users.
Enhanced Architecture: Leveraged Clean Architecture and SOLID Principles to ensure the app’s robustness, scalability, and maintainability.
Expanded Functionality: Integrated core banking features, including global cash position overviews, beneficiary approvals, and payment management, ensuring feature parity with the web platform.
Streamlined Development: Applied meticulous planning and documentation to align product development and release cycles with FAB’s strategic goals.

Impact Delivered

Enhanced User Experience: Delivered a modernized and immersive UI, meeting and exceeding user expectations.
Omnichannel Banking: Enabled a seamless experience across web and mobile, empowering users to manage global transactions effortlessly.
Scalable Application: Developed a robust and maintainable mobile app architecture, ensuring long-term scalability and reliability.
Accelerated Development Cycles: Streamlined product development and release processes, supporting FAB’s ongoing digital transformation goals.

Expertise and Scope

Deliverables: Fully-featured mobile banking app for Android and iOS
Tech Stack: Flutter
Team: 7 Flutter Developers, 1 Project Manager

OTT Video Streaming Platform Migration – Insights & Challenges

September 17, 2024November 7, 2024 by Sasho

The environment

In the ever-evolving landscape of video streaming, growth often demands a transition to more powerful and flexible platforms. Recently, we faced such a challenge with a client who had outgrown their current platform hosted on Vimeo. The task at hand was not just a migration – it was a strategic move to a dedicated, robust, Over-the-Top (OTT) platform tailored to meet the growing demands of their audience.

The steps

Content Migration
User Data Migration
Integration with 3rd Party Platforms
Payment System Transition
Switch Over Planning

Content migration: A herculean task

Migrating content is the most visible and critical part of the transition. This isn’t just about moving video files—it’s about transferring the entire ecosystem: video assets, metadata, subtitles, artwork, and more. The complexity and volume of data made this task more time-consuming than anticipated, highlighting the need for meticulous planning and execution in content migration.

User data migration: Maintaining continuity

User data migration is a sensitive and intricate process. Our task was seamlessly moving user accounts, profiles, settings, watch history, and recommendations. The challenge lay in mapping the legacy data architecture and transferring relevant data to the new system. A crucial aspect of this was handling passwords, which had to be transmitted in hashed form to maintain security and user trust.

Integration with 3rd party platforms

The new OTT platform demanded the integration of fresh APIs, SDKs, and infrastructure. This step was crucial to support the enhanced features and functionality we envisioned for the platform. Adapting to these new technical requirements was a significant hurdle but essential for the long-term scalability and flexibility of the platform.

Payment system transition: InPlayer integration

A subtle yet vital aspect of our migration strategy was the integration of InPlayer for payment processing. This switch was a technical update and a strategic move to enhance user experience and streamline revenue generation.

Switch over planning: The final leap

The final transition from the old to the new platform required careful orchestration. Our goal was to minimize subscriber impact and avoid confusion during the switchover. This phase demanded precise internal communication among our teams and externally with our client’s audience.

Conclusion

This migration project was more than just a technical task; it was a natural learning curve for us. Tackling these challenges sharpened our ability to handle complex OTT platform transitions. We’ve gained many practical insights from this experience, which we’re excited to apply in our future work.

Looking back, we see this project as more than just a platform switch. It was a significant change for both our client and our team. We’re pleased to have managed this complicated process successfully, and it’s given us a new level of confidence in our work in video streaming development.

Wiser Technology Joins the Premium Segment of the Bulgarian Stock Exchange

September 16, 2024November 7, 2024 by Sasho

In brief

The shares of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, are now traded on the Premium segment of the Bulgarian Stock Exchange (BSE)
Over the past 12 months, the company revenue grew 192%, the market capitalization by 228% to about €38M, and the share price by 85% to €3.09 per share
Wiser is currently raising €12.5M through a new capital increase via the Bulgarian Stock Exchange, scheduled to commence on September 17, 2024

Sofia, Bulgaria, September 16, 2024 – As of today, September 16, 2024, the shares of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, are now traded on the Premium segment of the Bulgarian Stock Exchange (BSE).

Over the past 12 months, the company revenue grew 192%, the market capitalization by 228% to about €38M, and the share price by 85% to €3.09 per share. Wiser Technology is now among the most actively traded companies on the BSE and was included in the BGBX40 index earlier this year.

Kosta Jordanov and Assoc. Prof. Manyu Moravenov, Ph.D.

“The move to the most premium segment of the Bulgarian Stock Exchange is a direct result of investors’ trust.“
Kosta Jordanov, CEO at Wiser

“I am pleased to welcome one of the fastest-growing technology companies on the Bulgarian Stock Exchange to the Premium segment. In addition to demonstrating liquidity and share price growth, the company has shown a positive attitude and transparency to its investors. From what I’ve observed, I am confident Wiser has the potential to become a successful international player, and we will be proud when it eventually lists on a major global stock exchange,” said Assoc. Prof. Manyu Moravenov, Ph.D., member of the BoD and CEO of BSE. “The BSE currently needs more companies like Wiser to drive the necessary growth and momentum for our market to advance to the next level – well-positioned to international investors,” added Prof. Moravenov.

“It’s great to see the increasing investor interest in Wiser as we continue to improve the business fundamentals and to grow the business. The move to the most premium segment of the Bulgarian Stock Exchange is a direct result of investors’ trust,” shared Kosta Jordanov, CEO of Wiser Technology. “We’d like to thank the management of the BSE for guiding us on our path initially from the Alternative Market to the Standard segment of the Main Market and now to the Premium segment,” Jordanov added.

Wiser is currently raising €12.5M through a new capital increase via the Bulgarian Stock Exchange, scheduled to commence on September 17, 2024. Last week, Wiser held an open meeting with the investment community to present the parameters of the upcoming capital increase and the company’s development plans. Materials and a recording of the meeting are available at https://www.bianor-holding.bg/posledni-resultati/.

from left to right: Dimitar Dimitrov, CTO at Wiser; Kosta Jordanov, CEO at Wiser; Angel Stefanov, Partner at BlackPeak Capital; Ivan Dimitrov, CPO at Wiser

A Comprehensive OTT Video Streaming Solution for Nova Broadcasting Group

August 30, 2024January 22, 2025 by Sasho

Client at a glance

Shaping the Future of Video Streaming

By delivering a comprehensive OTT solution, Wiser Technology empowered Nova Broadcasting Group to redefine its streaming platform. With full control over its ecosystem and enhanced scalability, NBG continues to lead the market while offering an unparalleled viewing experience.

“We are truly delighted by the high level of competence and responsiveness of Wiser Technology’s team.“
Dirk Gerkens, CEO, Nova Broadcasting Group

Challenge

Nova Broadcasting Group (NBG), a leader in Eastern Europe’s media landscape and part of United Group, sought greater independence and flexibility from its existing streaming platform. While leveraging a prominent global provider, NBG aimed to better control its user experience, accelerate time-to-market, and foster tailored audience engagement. The challenge was to build a custom Over-The-Top (OTT) platform that could scale with its growing user base and meet evolving market dynamics.

Our Approach

To empower NBG with ownership over their streaming ecosystem, we partnered with the group to deliver a tailored solution that combined robust infrastructure with a user-focused experience.

Key actions included:

Custom OTT Architecture: Designed a scalable system built to NBG’s specifications, integrating proprietary and third-party streaming services.
Comprehensive Product Development: Delivered native applications for web, iOS, Android, AndroidTV, and Chromecast, ensuring a seamless experience across all devices.
Distinct Streaming Services:
- Nova Play: Offering live and Ad-Supported Video on Demand (AVOD) models.
- Play Diema Xtra: Supporting live streaming, Pay-Per-View (PPV), and Subscription Video on Demand (SVOD).

Impact Delivered

User Growth: Migrated users and content seamlessly, achieving zero churn and expanding the user base to 600,000 active users.
Enhanced Viewing Time: Increased watch time by 17%, boosting ad revenue per user.
Improved Content Reach: Expanded from four to six live TV channels, meeting audience demands.
Full Ownership: Delivered Intellectual Property Rights (IPRs) for all front-end applications, enabling NBG to define and lead its feature roadmap.

Innovative Features and Design

The platform offers a superior user experience with:

Dynamic User Features: Personalized profiles, push notifications, watch-later functionality, and continuous play across devices.
Advanced Monetization Models: Supports ad-serving, PPV, and subscription-based approaches for premium content.
Seamless Viewing Options: Integrated DVR functionality for live and recorded streams, allowing users to pause, rewind, and fast-forward effortlessly.

Robust Backend and Scalability

Content Management: Adaptive bitrate streaming ensures optimized delivery across all networks and devices.
Security and Monetization: End-to-end encryption, DRM, and secure monetization tools guarantee safe and reliable revenue generation.
Analytics Integration: Multilayer analytics drive intelligent marketing strategies and actionable user insights.
Infrastructure Stability: Leveraged multi-CDN deployment, auto-scaling, and redundancy to handle high traffic volumes while maintaining industry-leading video quality.

Overcoming Technical Challenges

One significant hurdle involved MPEG-DASH limitations, including static DVR configurations and live-edge adjustments. Our proprietary live stream proxy solution resolved these issues, enabling real-time stream modifications and delivering a seamless user experience.

Agile Execution

The project followed Agile/Kanban methodology, structured into iterative phases, each delivering major features and improvements. Our cross-functional team included Product Managers, a Software Architect, DevOps Engineers, and QA specialists, ensuring alignment with NBG’s strategic goals.