Integral Venture Partners agreed to acquire an unknown majority stake in Ontotext AD from Sirma Group Holding AD (BUL:SGH) for €19.5 million on May 18, 2022. The deal is subject to approval by the banks providing finance and shareholders of Sirma Group. The deal has been approved by the board of Sirma Group.

As an additional condition, the Integral Venture Partners has agreed to participate in a capital increase of Sirma AI to the tune of €10.75 milion, resulting in the ownership of a 76.2% of the share capital of the target unit. Sirma Solutions will keep the balance of 23.8% of the equity. The transaction is not subject to any regulatory approvals and is expected to close by August 2022.

The terms of the investment were not disclosed. Djingov Gouginski Kyutchukov & Velichkov