Bulgaria's competition regulator clears Eurobank's stake buy in CSoft, revenue at €8.7M
What's the deal? Bulgaria's Commission for Protection of Competition (CPC) has approved the acquisition of a stake in Varna-based software company CSoftDealroom has a profile for this one. Try Dealroom → by Greece's Eurobank groupDealroom has a profile for this one. Try Dealroom →, which operates in Bulgaria under the PostbankDealroom has a profile for this one. Try Dealroom → brand. The regulator's decision redacted the exact percentage the bank is acquiring in the developer.
The players: CSoft, founded in 1991 by Sarkis and Hristina Sarkizovi, is one of Bulgaria's first software firms and specialises in financial software for banks. It has been run as a family business, with the couple holding the entire company before the deal — 45.5% each as individuals and a further 9% through their firm SiSmartDealroom has a profile for this one. Try Dealroom →.
The structure: The investment was announced in May as a deal by Luxembourg-based Innovation Investment FundDealroom has a profile for this one. Try Dealroom →, owned by the Eurobank groupDealroom has a profile for this one. Try Dealroom →. Legally, the shares are being acquired by Eurobank BulgariaDealroom has a profile for this one. Try Dealroom →, the entity operating under the Postbank brand.
By the numbers: CSoft employed 171 staff as of March 2026. Its 2024 revenue — the latest filed in the Commercial Register — was €8.7 million.
The conditions: The CPC attached several requirements. All CSoft clients must have equal access to updates for the company's off-the-shelf products, so that Eurobank group clients get no preferential treatment such as earlier access. The regulator also imposed legal limits barring Eurobank from influencing CSoft's "technological and technical strategy and policy," from decisions on features built for other banks, and from prioritising product projects.
Why now? The concern is competitive: CSoft builds financial software for banks, and the regulator wants to prevent Eurobank-affiliated clients from gaining an edge over rivals. Compliance is to be monitored by a special representative from the Bulgarian branch of one of the big four auditors — PwCDealroom has a profile for this one. Try Dealroom →, EY, KPMG, or DeloitteDealroom has a profile for this one. Try Dealroom →.
The signal: The CPC's new composition has begun approving acquisitions while attaching conditions, a pattern also seen in the recent ownership change at Prestige-96Dealroom has a profile for this one. Try Dealroom →. In this case the deal does not create a dominant player, pointing instead to a broader trend of tighter regulatory scrutiny even where market impact is limited.
Read more: capital.bg
Image credit: Generated with Gemini
