Poland-based software specialist Asseco Group has announced a new investment in a local start-up company, Modulus, a provider of advanced cloud solutions and services for user interface (UI) and user experience (UX) design. The new shareholder of Modulus says that the move was in line with its business strategy that supports growth through both the acquisitions and further development of innovative solutions. However, Asseco says, it was the first investment of this kind in the group’s domestic market.
Modulus is a specialist in IT solutions within the Software as a Service (SaaS) area, cloud platforms (PSaaS) and services around user interface UI and UX design.
“The increasing role of start-ups in product development within the new technologies industry is a much-discussed topic in Poland and around the world. Asseco has, for quite some time, closely monitored this market in search of innovative products and groups of people with great potential. And Modulus represents world-class quality, and I am confident that this team will add a lot of value to our group,” says CEO of Asseco Poland, Adam Goral.
He also stresses that Asseco sees start-ups as a way of harnessing innovation which drives company’s investments in R&D, as only last year the company spent PLN 136m (€32m) on R&D domestically and around PLN 508m (€119m) across the entire group.
“Modulus adheres to the principle that the most beautiful solutions are those that stem from R&D, while being deeply rooted in market reality, and can solve real problems faced by millions of people every day. Joining Asseco was a natural step for Modulus, having seen the development of Asseco Group and its consistently implemented strategy of innovation. Asseco sees the potential in the innovative line of products we created and our expertise in the area of user experience that both set market trends for some time and that we use symbiotically when working on large projects for our customers in the European market. Joining the Asseco Group will facilitate achieving our global ambitions,” adds CEO of Modulus, Mikolaj Dunikowski.