Devexperts, one of the leading platform technology developers in the foreign Exchange industry, announced today that it has opened a new research and development centre in Sofia, Bulgaria. The new R&D centre will be headed by Viktor Andonov, an IT industry veteran.

Headquartered in Munich, Devexperts provides specialised capital market software solutions. Its clients are primarily retail and institutional brokers, banks, wealth management firms, as well as stock and crypto exchanges. The firm, which was founded in 2002 and currently has over 400 employees, also has R&D centres in Munich, Antalya and Porto.

Now, the priorities of the firm for its new office include sourcing qualified software specialists and investing in educational programs. The company will achieve this by working with local universities to create workshops and internship programs.

Commenting on the announcement, Michael Babushkin, CEO of Devexperts, said: "It is a great honor and challenge for us to choose Bulgaria as the R&D center for Devexperts. We were considering different destinations, including Hungary and the Czech Republic, but then realized this country has more to offer to us, and decided to invest here. I believe that in Bulgaria there are many qualified and well-trained specialists, as well as good business conditions.”

Viktor Andonov’s new role at Devexperts

Before taking on his new role at Devexperts, Andonov was working at DataArt Europe, part of the global technology consultancy DataArt. Here he led the development centre. Before this, he also worked at Moody's Investor Services where he was a vice president of software engineering.

Andonov added: "The fact that a highly specialized software company such as Devexperts has decided to invest in our country is yet more proof that Bulgaria is becoming an established IT destination.”