Ciklum has acquired CN Group, a Czech software development firm, from Genesis Capital, enhancing its capabilities in the CEE and DACH markets.

Information on the Target

Ciklum, a global leader in product engineering and digital services, has acquired CN Group, a prominent software development firm based in the Czech Republic. This acquisition, completed in August 2021, marks a significant development for Ciklum as it aims to bolster its operations in the Central and Eastern Europe (CEE) and DACH regions. Genesis Capital, one of the leading private equity funds in Central and Eastern Europe, divested 100% of its stake in CN Group, having previously invested in the company in 2019.

Headquartered in Prague, CN Group has a robust presence across five nearshore delivery locations in Central Europe. With a team of 360 digital technology experts, CN Group strengthens Ciklum's workforce, which includes over 3,500 engineers, designers, product managers, and data scientists. For over 27 years, CN Group has been delivering a range of services, including software engineering and IT consulting, to 62 international clients, such as Procter & Gamble and Strabag.

Industry Overview

The software development industry in the Czech Republic has shown remarkable resilience and growth potential. The nation is recognized for its high-quality engineering and IT services, attracting numerous international investors. With its well-educated workforce, the