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    Reference: 20160248
    Release date: 4 March 2021

    Promoter – Financial Intermediary

    UPSTREAM TELECOMMUNICATIONS AND SOFTWARE SYSTEMS SA

    Location

    Description

    The company's growth programme of EUR 50m over the period 2016-2018, aims to enhance its product offering and scale its business. In fact, the company is planning to invest in software research and development (R&D) and hardware to i) improve its platform components to further support business functions, ii) enrich its product to support increasing data and media-rich services and iii) consolidate data repository to allow company level business intelligence. In parallel, the company will expand the footprint of its product offering to new industries including safety and security, micro-insurance, utilities, and media as well as grow its sales capacity internationally.

    Objectives

    The company's growth program of EUR 50m over the period 2016-2018 aims to enhance its product offering and scale its business. The company is planning to invest in software research, development and innovation (RDI) and hardware to i) improve its platform components to further support business functions, ii) enrich its product to support increasing data and media-rich services and iii) consolidate data repository to allow company level business intelligence. In parallel, the company will expand the footprint of its product offering to new industries as well as grow its sales capacity internationally.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 50 million

    Environmental aspects

    The project activities do not fall under Annexes I and II of the EU Directive 2011/92/EC as amended, and are therefore not subject to mandatory environmental impact assessments. The proposed investments will take place inside buildings at existing RDI facilities.

    Procurement

    The Promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and thus is not subject to EU rules on public procurement.

    Status

    Signed - 16/12/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Greece Services