Technoserv Acquires Reksoft as Martinson Trigon Exits

Martinson Trigon Venture Partners, Estonian-based venture capital fund, has announced that is has exited Reksoft, a company in which it invested in November 2005. Technoserv has agreed to acquire Reksoft. The agreement allows Reksoft CEO Alexander Egoroz to stay in his position, along with the continued independent operation of the company. The exact details of the transaction are unknown.

Reksoft (www.reksoft.com)
Reksoft is a software outsourcing provider with offices in Russia, Germany and Sweden. Founded in 1991, the company has grown year-over-year 41 percent over the last five years. It earned USD 22.6 million in 2007. With 400 employees, Reksoft has developed into one of the largest software houses in Russia, especially with the telecommunications, hospitality and financial sectors. The company also has been developing its presence in Eastern Europe.

Technoserv A/S (www.technoserv.ru)
Technoserv was founded in 1992 as dedicated system integration and IT service company. In the following years, the company has developed its infrastructure networking and applications services as well as consulting and outsourcing to become the second largest IT service provider in Russia. The company showed revenues of USD 1.2 billion in 2007.

Based in Moscow with seven additional offices in Russia, Ukraine and Uzbekistan, Technoserv has 1500 employees.

Martinson Trigon Venture Partner (www.martinsontrigon.com)
Managing specialized media, telecommunications and technology companies, Martinson Trigon Venture Partner focuses on the Russian, Baltic and Central and Eastern European countries. Providing start-up capital to regional companies working in the local market as well as those targeting global exposure, Martinson Trigon seeks companies with unique concepts and technologies.