Wiser Technology plans to appoint of Baker Tilly as the authorized auditor.
Capital increase of 160,000 shares to distribute among all employees.
A seasoned registered auditor joins the Auditing Committee.
Sofia, Bulgaria, November 7th, 2024 – Bianor Holding (BSE: BNR) has scheduled a General Assembly meeting for December 12th, 2024, to vote on key decisions, including renaming the company to Wiser Technology, updates to the Board of Directors and the Auditing Committee, the appointment of Baker Tilly as the authorized auditor, and a capital increase of 160,000 shares to distribute among all employees.
“Earlier this year, the GA approved an Employee Stock Option Program as a performance-based reward program. Now, in addition, the board is recommending to the GA a one-time capital increase to provide every employee with an opportunity to own stock in the company,” said Ivan Dimitrov, Chief People Officer of Wiser Technology. “This move reflects our commitment to fully aligning our team with the company’s vision, sharing the company’s success with the people that drive it, and fostering a culture of ownership and collaboration to support Wiser Technology’s further growth,” added Dimitrov.
Selecting Baker Tilly, a globally recognized top-ten auditor, underscores Wiser Technology’s commitment to expanding its appeal to international investors and its dual-listing ambitions.
The General Assembly will also vote on the addition of two new members to the Auditing Committee: Kliment Nachkov, CFO of Wiser Technology, and Veronika Revalska, a registered auditor listed in the register under Article 20 of the Independent Financial Audit Act (ZNFOSU). Nachkov brings a wealth of experience from the U.S. banking sector and corporate finance roles at Prime Holding and Entrea Capital, Bulgaria’s top independent M&A advisory firm. Revalska’s auditing expertise includes overseeing audits for major clients, including Bulgarian Energy Holding, National Electric Company, Printing Works of BNB, and Allianz Bulgaria, during her time as lead auditor at HLB Bulgaria.
Another major decision planned for the upcoming GA is appointing two new members of the Board of Directors. Dimitar Dimitrov, CTO, and Georgi Sokolov, COO of Wiser Technology, are nominated to join the BoD. Dimitar Dimitrov is an IT entrepreneur and a professor at the Faculty of Mathematics and Informatics of Sofia University. He is a former VP “Development” at SAP and a member of the board of the Bulgarian Association of Software Companies. Georgi Sokolov is a software engineer and entrepreneur. He co-founded several Bulgarian software companies and founded the Bulgarian office of the multinational brand Reward Gateway, serving clients like American Express, Groupon, Yahoo!, IBM, and McDonald’s.
Earlier this month, Wiser Technology announced its seventh M&A transaction in the past 18 months, acquiring 100% of the Serbian software development company Badin Soft. Wiser Technology (BSE: BNR) trades on the Premium segment of the Bulgarian Stock Exchange and recently completed a €12.3M capital increase from the public markets to support the company’s further expansion.
Goodlord needed to integrate a remote team into their established onsite work processes in London, proposing fresh solutions and software improvements despite their lack of experience with external remote engineers.
Approach and solution
Analyzed the existing architecture and proposed core system improvements, migrating legacy functional code to OOP modules in Symfony (PHP) for better scalability and maintainability.
Implemented unit and end-to-end tests to simulate various loads and prevent defects, and reorganized the MySQL database and migrated the web interface to React components.
Impact achieved
New Architecture: Based on Symfony and Scala, leading to improved scalability and maintainability.
Database Reorganization: Enhanced the performance and efficiency of the MySQL database.
Web Interface Migration: Transitioned to React components for better user experience and performance.
Test Coverage: Achieved comprehensive unit and end-to-end test coverage for major functionalities.
Goodlord is a UK Based software service provider for landlords, agents, and tenants. The company specializes in the preparation and maintenance of the required documentation for renting offices and residential spaces such as electronic forms and contracts between landlords and tenants, choosing suppliers of gas, electricity, water, etc.
Their services utilize electronic signatures, invoices, and a wide array of online payments. Notifications to involved parties as well as automated contract extension and termination are included as well.
Challenges
Goodlord was looking for experienced software developers to join their existing in-house team and assist with migrating the core of their web-based software from legacy functional PHP to Symfony, get involved in support, new features implementation, and test integration. The company’s specific requirement was for the software developers to be able to take on various multi-tech tasks in all areas of the platform.
Overall, Goodlord’s desire was to hire team members who will be tightly integrated into the existing work processes but will also propose fresh solutions to support issues, and suggest software improvements. This was a risky endeavor considering the company’s established practice of onsite work only in their London office and the fact that they hire external remote engineers from another country for the first time.
Solution
We started with an analysis of the existing architecture, understanding the specific details and issues in discussions with the onsite software engineers and support team, meeting with Product Managers to get acquainted with the business objective and goals of the system and each individual component.
Based on this, we were able to propose improvements to the software core system and started getting involved in the migration of the legacy functional code to OOP modules in Symfony (PHP) in order to improve the architecture, code scalability, and maintainability, and to allow for faster implementation of new features.
Additionally, unit and end-to-end tests were implemented and integrated to simulate various loads, as well as tests for every new feature to prevent defects.
Furthermore, we have been supporting the client by importing all end-customer data received from different systems to the client structure. To achieve this we developed ETL processes based on SSIS.
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.“
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.
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.
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.
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.
The client needed to gain a deeper understanding of their customers and market dynamics to optimise customer satisfaction through tailored products and services.
Lacking comprehensive knowledge of their customers’ preferences, habits, and feelings, they risked not meeting customer expectations, leading to potential dissatisfaction and inefficient utilization of resources.
Approach and solution
We used advanced analytics techniques like K-means clustering, DBSCAN, Regression analysis, ANOVA, and PCA to segment the customer base by attributes and preferences.
Using XGBoost and Random Forests, we developed predictive models to forecast behavior, make personalized recommendations, and optimize marketing.
With insights from customer behavior, we tailored effective loyalty programs for specific segments.
Impact achieved
Enhanced understanding of customer segments and behaviors led to more targeted and effective marketing campaigns.
Tailored loyalty programs improved customer retention and engagement.
Robust systems allowed for better monitoring and analysis of key performance indicators, supporting strategic decision-making.
Overview
Kaufland, a leading international retailer in the fast-moving consumer goods (FMCG) sector, operates over 1,500 stores and warehouses across eight countries, along with an online marketplace in Germany.
Challenges
Kaufland faced the challenge of understanding their loyal customers and market dynamics to optimize customer satisfaction through tailored products and services. With limited insights into customer preferences, habits, and sentiments, they risked falling short of customer expectations, potentially leading to dissatisfaction and inefficient resource allocation.
Solution
To address these challenges, we implemented customer segmentation and advanced analytics. Utilizing techniques such as K-means clustering, DBSCAN, regression analysis, ANOVA, and PCA, we identified distinct customer segments based on a variety of attributes and preferences.
We then employed XGBoost and Random Forests to develop predictive models that forecasted customer behavior, enabled personalized recommendations, and optimized marketing strategies.
With these insights, we designed and implemented effective loyalty programs tailored to specific customer segments. Additionally, we established robust KPI tracking and transparency systems, enabling data-driven decision-making and facilitating comprehensive business performance evaluation.
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.
“We are pleased to see considerable interest from investors, with close to €11M already committed.“
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.
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.
Optimize processes across the company and streamline everything
A partner to co-lead the digital transformation efforts and help deliver several large internal projects spanning Digital Customer Experience, Loyalty Management, and NextGen CRM
Approach and solution:
Program structure, goals and progress audit and Improvements Report
Introduced cross-functional squads and increased technical leadership
4X improvement of the velocity of the delivery teams
Enabled monthly delivery life cycles and better management visibility over the progress
Impact achieved:
Increased Velocity: Achieved a 4X improvement in the delivery teams’ velocity.
Monthly Delivery Cycles: Enabled efficient monthly delivery cycles and improved management visibility over progress.
Enhanced Planning: Improved team planning and commitment to the program goals.
Overview:
We partnered with CCI which is headquartered in Istanbul, Turkey and is the 6th largest bottler for Coca-Cola that takes care of the entire production, sales, and distribution. With a total of 26 plants in 10 countries close to 9,000 employees, CCI produces, distributes, and sells sparkling and still beverages of The Coca-Cola Company to a consumer base of 400 million people.
CCI aspired to become a digital-first company and in 2018 they started a Digital Transformation initiative to optimize processes across the company and streamline everything. CCI trusted us to co-lead the digital transformation efforts and help them deliver on their goals.
Challenges:
CCI had a large IT legacy organization that relied on many different vendors so in 2018 with Digital Transformation as a priority #1, they started a new Digital Unit to perform a major cleanup job across the company and streamline all processes. CCI was seeking excellent external partners that could speed up the implementation of the initiative and help them deliver several large internal projects spanning Digital Customer Experience, Loyalty Management, and NextGen CRM.
The NextGen CRM project was the highest priority and the first one CCI wanted to kick off. CCI had bought an eBest SFA solution that automates the sales process to increase the sales reps’ efficiencies and productivity, which, however, didn’t exactly meet the needs of CCI and didn’t support integration with CCI’s ERP system out of the box.
Time was of the essence and all modifications and integrations had to be completed in an extremely tight deadline. The final solution had to meet the needs of CCI and serve all distributors across Turkey and then be launched in all countries where CCI operates.
Solution:
CCI entrusted us to co-lead their digital transformation. We provided tech guidance and consultancy to ensure successful project delivery. Key actions included:
Management Audit: Evaluated the program structure, goals, and progress, presenting a Management Report for Improvements.
Team Restructuring: Introduced cross-functional squads and enhanced technical leadership.
Agile Methodology: Improved requirements gathering processes, procedures, and templates in line with agile practices.
Standardized Criteria: Enhanced technical design and standardized DoR (Definition of Ready), DoD (Definition of Done), and acceptance criteria across all teams.
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.“
“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
192% year-over-year increase in consolidated revenues
On a pro-forma consolidated basis the revenues surged to €13.8M for the first half of 2024
Sofia, Bulgaria, August 29, 2024 – Bianor Holding AD (BSE: BNR), operating under the Wiser Technology brand, announces a 192% year-over-year increase in consolidated revenues for the first half of 2024. Revenues reached €4.3M, up from €1.5M during the same period of 2023.
On a pro-forma consolidated basis, which includes the revenues from the companies acquired earlier this year, Wiser’s revenues surged to €13.8M for the first half of 2024. This is an over nine times increase compared to the same period of 2023. The newly acquired companies are consolidated in Wiser’s profit and loss reports starting with the third quarter of the year, and their effect will be reflected starting with the next quarterly reports.
“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year.“
Wiser reported a negative financial result before interest, taxes, and depreciation of €0.2M and a net loss of €0.3M for the first half of 2024.
“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year, despite the significant focus and investments this year to support our aggressive expansion,” said Kosta Jordanov, CEO of Wiser. “In the first half of the year, we had over €0.2M in one-off M&A-related costs. Most of those are now behind us, and we refocus our investments towards the integration of all the companies in the group under a single organizational structure and brand and in the international expansion of our sales channels,” added Jordanov.
Wiser is planning a capital increase of up to €12.6M through the Bulgarian Stock Exchange in the second half of the year. The company invites all members of the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. During this meeting, Wiser’s management will provide further comments on the company’s financial performance and more information about the company’s growth plans, as well as the objectives and parameters of the upcoming capital increase.
Enhance system infrastructure and data processing.
Develop reporting system and custom solutions.
Improve ETL processes and overall system stability.
Approach and solution
Improved system infrastructure and internal data processing algorithms.
Developed and implemented a reporting system using MS Reporting Services.
Built custom solutions with SQL server jobs, stored procedures, and custom SQL functions.
Developed ETL processes based on SSIS.
Impact achieved
A faster, more stable and secure system
24/7 online availability
Greater scalability and reduced maintenance of the system
Expertise and scope
Technology Stack: .NET Framework, C#, Web Forms, Winforms, LINQ To SQL, Web Services, Rest Services, Windows Services, JQuery, Bootstrap, MS SQL Server, MS SQL Server Reporting Services (SSRS), IIS
Overview
NowCerts is a software development company focused on the design and implementation of insurance-related solutions. It offers an Insurance Agency Management System designed with the independent agent in mind. With the fast-growing client base and constantly evolving requirements, however, the system was unable to satisfy the clients’ expectations for performance, functional features, stability, reliability, and security.
NowCerts trusted us to help them overcome the challenges they were facing and significantly improve their system so that it could meet the end client requirements.
Challenges
After the release of the SaaS platform, NowCerts’ client base grew so quickly that the system was not able to meet either the functional or the non-functional requirements, including performance, stability, reliability, and security.
There were many challenges that needed to be tackled as the platform was running slowly and was often unresponsive. Users often encountered errors due to bugs, timeouts, or other issues. Moreover, the system was originally designed for internal use only and therefore the security was weak as it was not a top priority during the initial product development.
Solution
We gathered a team to analyze NowCerts system, identify the problems, and define possible solutions and requirements. Based on our analysis we decided that we could address all identified issues by improving the existing features and further developing new ones.
We improved the infrastructure as we changed several aspects of the system’s architecture in order to improve performance security, stability, and reliability. To achieve this we added more servers and developed a high-availability system based on web farms. The team also improved the internal data processing algorithms by building several solutions based on the MSSQL, which allowed for a better performance of the data layer of the system.
To meet end customers’ requirements, we further developed and implemented a reporting system based on the MS Reporting Services, which provides them with a better overview of their business. Further custom solutions were developed in the form of SQL server jobs, store procedures, and custom SQL functions, in order to improve the overall speed and functionality of the system.
Furthermore, we have been supporting the client by importing all end-customer data received from different systems to the client structure. To achieve this we developed ETL processes based on SSIS.
