Investment with R22
Acquisition of Croatian company Avalon is the second R22 project co-financed by the Polish International Development Fund The investment agreement concluded in 2019 concerned the provision of a loan by the fund for the acquisition of the Croatian company. A year earlier, R22 together with the fund financed an investment in three Romanian companies operating in the area of hosting and domains.
Fund involvement: 0,9 mln euro | Total project value: 1,85 mln euro
Company profile
R22 is a dynamically developing technology group. The group’s portfolio includes hosting services, domain sales, tools for creating and running online shops, multi-channel communication services, marketing automation solutions, software for the hospitality industry and telecommunication services.
Motivation of the company to expand abroad
For the R22 Group the Polish domestic market is too small to ensure stable growth for the company. That is why the company has been consistently conquering new foreign markets. The strategic objective which guides the new investments is to acquire and consolidate operating companies and, consequently, to obtain a large share and a leading position in countries of expansion. The company wants to develop its activities primarily in Central and Eastern Europe. The R22 Group currently operates in Poland, Romania and Croatia.
Benefits of expansion
Through a joint investment with the fund and the acquisition of Avalon, R22 has become the runner-up in the Croatian hosting and domain market. Avalon currently holds approximately 30% of the market share.