New player in IT and telecommunications market - Greek Kestrel Information Systems opened office in Belgrade

Greek company Kestrel Information Systems S.A., which offers its clients the solutions and services in the domain of IT&T projects, has opened a branch office in Belgrade.

Kestrel Information Systems S.A. is focused on the provision of services to telecommunications companies and big network operators in the government and academic sectors.

Its Director General Nodas Paschalidas said today at the first official presentation of the company in Serbia that the quality and competence of our engineers were the main reasons why the company had chosen our country to expand to.

Except for being present in Greece, Kestrel Information Systems S.A. also operates in Bulgaria and Albania, and it will soon open branch offices in Romania and on Cyprus.

As Paschalidas explained, Serbia is the first country where the company will employ local engineers, and not the employees from the mother company in Athens.

The company's plan is that up to 10 engineers be employed in Serbia by the end of 2011.

The other important reason why they have come to Serbia is the participation in the SEElight programme, which is being organized under the patronage of the Ministry of Telecommunications of the Republic of Serbia. The establishment of an optical network between the University and telecommunication operators, much of which is financed by the authorized Greek ministry, is seen as an ideal business opportunity by the people at Kestrel Information Systems.

As they pointed out, their target groups are telecommunication operators, government networks (civilian and military), as well as large network operators such as financial institutions, lottery and public utility companies.

When asked if they planned to expand within the region, Paschalidas said that the entrance to Croatia and Slovenia was out of question. The company is already thinking about the presence in the markets of Bosnia and Herzegovina and Montenegro, but they are not going to form companies there. Instead, they will operate in these markets from the office in Belgrade.

Kestrel Information Systems was formed in 2000, at the time when Greece was getting a significant share of the funds from the EU funds to create and modernize the IT structure.

The company's headquarters is situated in Athens, while its subsidiaries are in Tirane, Sofia and Belgrade.

Last year, although it was the year of the crisis, they registered a turnover of 4.2 million euros. When it comes to the ownership structure, 70% of shares are owned by Neurosoft, while the owners of the remaining 30% are Nodas Paschalidas and Vassilis Ioannidis.

Neurosoft, a Greek software company, is ranked on the Milan Stock Exchange,and it is especially famous for its platforms for financial institutions and those related to risk management used by sports betting houses.