Software producer Siveco grows turnover by 20% in 2010

Local software company Siveco grew its turnover by 20 percent last year on 2009 and signed over 100 new contracts, the company has announced. Siveco posted EUR 49 million in turnover in 2009, according to its data, having reached EUR 58.8 million in turnover last year. The company has already signed multi-annual contracts for eLearning, eAgriculture, eCustoms and eHealth sollutions, which are expected to fuel revenues for 2011. These, along with the international expansion and the use of structural funds were main priorities for Siveco last year. Siveco launched an e-education program for the Morocco Education Ministry last year and by 2013, it will implement a system which will be used in 9,000 Moroccan schools. The company also signed a contract with the National Health Insurance House in Romania for an integrated information system. It also started working with the Macedonian Customs, where it will implement an eCustoms solution. Siveco also continued eLearning projects in the United Arabian Emirates, Azerbaijan, Egypt, the Republic of Moldova and in Romania. Siveco Romania was set up in 1992 and its shareholders include Intel Capital, Polish Enterprise Fund V- managed by Enterprise Investors, as well as Siveco Netherlands. editor@romania-insider.com