CODIX Named One Of The Top 100 Software Companies In Bulgaria

17 October 2018

The last few years have seen rapid and positive developments in the software industry in Bulgaria. Thousands of companies already operate in the country, and their ownership or management represents more than 20 nationalities.

The 100 largest employers in the software industry in Bulgaria accounted for 20,047 jobs in 2018. These figures represent an overall increase of 7.9% in the number of employees compared with the previous year, and 97.6% compared with seven years ago.

These were the findings of a study conducted by an independent agency called CBN Pannoff, Stoytcheff & Co., and published in Computerworld Bulgaria. The agency has over 25 years’ worth of experience in drawing up and analyzing business rankings in Bulgaria which cover inter alia the software industry. To draw up the rankings, the agency reviewed 98 479 ICT companies in the period 2011 – 2018 and selected only those in the software segment. The main criteria used for ranking these companies were: revenue, earnings, personnel, remuneration and productivity.

In 2018, the 100 largest software companies in Bulgaria generated BGN 2.19 billion (EUR 1.12 billion) in total operating revenue. These figures were 25% higher than the previous year and 190% higher than seven years ago (2011).

According to the study, CODIX was ranked among the top 25 software companies in Bulgaria by operating revenue in 2018. A company could be named to the list of top 100 software companies in Bulgaria in 2018 only if its operating revenue was in excess of BGN 7 million (EUR 3.58 million).

The top 100 employers in the software industry in the country are based in five cities: Sofia, Plovdiv, Varna, Veliko Tarnovo and Stara Zagora.