Acquisition Strengthens Seyfor’s Position in the International Market
Prague, June 30, 2025 – Seyfor, one of Europe’s leading providers of enterprise IT solutions, is pleased to announce its latest strategic acquisition, following the recent takeover of Czech company Dotykačka. Seyfor has acquired 100% of the shares in Revolution Software Kft., a key player in the Hungarian ERP solutions market. This transaction marks a significant step for Seyfor as it expands into the Hungarian market and strengthens its position in the implementation of Microsoft Dynamics 365 Business Central. Previously, last year in July, Seyfor acquired a 70% stake in M&I Systems Co., a Serbian-based regional leader in the ERP systems market, now operating within the Seyfor Group.
Revolution Software Kft., headquartered in Budapest, was founded in 1992 and specializes in delivering high-quality ERP systems for mid-sized businesses. Its core products include its proprietary deep.erp solution as well as the implementation of Microsoft Dynamics 365 Business Central. The company employs approximately 70 professionals and generated revenues of 6.3 million euros in 2024.
The transaction was signed in February 2025 and, following approval by the Hungarian Foreign Direct Investment (FDI) authority, was completed on May 30, 2025.
“The acquisition of Revolution Software Kft. is a significant milestone for Seyfor as we enter the Hungarian market, which offers substantial growth potential and strengthens our position as a leading European IT provider. Revolution Software brings deep local expertise and a strong technological foundation. We have been collaborating with Revolution for several years, including on the implementation of our Incadea and One Core systems in Hungary. We look forward to leveraging this partnership to drive growth, maximize synergies, and accelerate the exchange of know-how across our teams,” said Martin Cígler, CEO of Seyfor.
The current management team of Revolution Software Kft. will remain in their positions, ensuring continuity in development and further business expansion. “Joining forces with Seyfor opens up new opportunities for technological development and growth, particularly in our local Hungarian market. We have a lot of work ahead as we deepen our understanding of each other’s markets and leverage our combined strengths. We believe this partnership will allow us to offer even higher quality services to our clients and expand our product portfolio to meet the needs of Hungarian businesses of all sizes,” commented László Szalóki, CEO of Revolution Software Kft.
On this occasion, Vladan Balaban, President of M&I Systems Group, stated:
“This is an exciting milestone that culminates the strategic conversations we’ve had over the past year. We’re not just talking about acquisitions on paper—we’re actively integrating our strengths to create something far greater than either of us could achieve alone. Seyfor’s acquisition of Revolution Software in Hungary, and previously of the Czech company Dotykačka, combined with their earlier investment in M&I Systems Co, marks a significant step in our journey of regional expansion. Partnering with Seyfor not only provides us with a trusted local presence in the Western Balkans but also unlocks new opportunities for R&D, AI integration, and technological innovation.”
Nikola Balaban, CEO of M&I Systems Co, added: “What makes Seyfor truly stand out is their deep understanding of technology and their commitment to nurturing regional talent. They’re not just an investor—they’re a strategic partner with a broad portfolio of enterprise solutions across Central and Eastern Europe. I am certain that the newest takeover of Revolution Software will accelerate the growth trajectory of the entire Seyfor Group, enabling us to expand our reach and capabilities more rapidly. Together, we’re setting the stage for the next era of enterprise IT solutions in the region.”
About Seyfor
Seyfor, a.s. is a leading European provider of ICT solutions. With a team of over 1,900 professionals, the company serves clients in 38 countries across Europe. Seyfor ranks among the fastest-growing IT companies in the region and is the largest developer of accounting, ERP, payroll, and HR systems in the Czech Republic, with an expanding footprint in international markets. The company’s sustained growth is supported by a consistent acquisition strategy, having completed numerous transactions across Europe to enhance its portfolio and strengthen its competitive position both domestically and abroad. Seyfor is jointly owned by the Slovak investment firm Sandberg Capital and Czech entrepreneur Martin Cígler. The company was founded in the Czech Republic in 1990 as Cígler Software and operated under the Solitea brand between 2017 and 2022.
About Revolution Software Kft.
Revolution Software Kft. is a Hungarian company with over 30 years of experience in the development and implementation of ERP systems. Its key products include the proprietary deep.erp system and implementations of Microsoft Dynamics 365 Business Central. The company is known for its commitment to quality and innovation, serving over 3,000 customers.
About M&I Systems Co
M&I Systems Co continues to expand its reach and influence, leveraging its long-standing legacy and strategic partnerships with industry leaders. Majority owned by Seyfor since July 2024, M&I Systems Co. has a wide range of products, services, and software solutions for various fields and industries. As one of the most active consolidators in the IT sector, Seyfor is strengthening its position across all key areas of IT system development and business expansion in Europe. The company currently provides its products to companies in 38 countries. M&I Systems Co is closely related to the M&I Systems Group, a fast-growing technology leader and a global company with over 30 years of experience in the market, leveraging ERP, cloud, data, AI, IoT, software development, consulting, digital engineering, and proprietary platforms to address the entire breadth of business needs of over 500 clients. M&I Systems Group is well-placed to ensure customers achieve their industrial transformation, digitalization, and ESG goals across all industries across the Adria region, DACH, and the US.
