As Sirma marks its 33rd anniversary, we take pride in a journey that has transformed us from a small start-up in 1992 to a globally recognised IT group. Over three decades, we’ve faced challenges, celebrated milestones, and made technological breakthroughs that have defined our story, and the most exciting chapter is still ahead.
The First Decade: Pioneering AI and Exploring New Frontiers
Sirma was founded in 1992 in Sofia, Bulgaria, by a group of visionary students determined to create software powered by artificial intelligence. From its earliest days, the company, then called Sirma AI, focused on text mining, expert systems, and machine learning. These efforts have laid the foundation for our reputation as a company that designs and builds high-quality, cutting-edge software.
In 1999, the launch of EngView Systems in Montreal, Canada, extended our global reach with its award-winning CAD/CAM solutions. As e-business and e-government solutions emerged, Sirma quickly became a trusted partner for Silicon Valley companies and Bulgarian institutions, including the Ministry of Defence and Bulbank AD. Sirma’s ambition grew with the creation of Ontotext Lab in 2000, focused on R&D in semantic technologies. By the early 2000s, we had already carved a name for ourselves in AI, data, and enterprise IT.
The Second Decade: Specialisation and Regional Leadership
The 2000s brought strategic growth and regional consolidation. The company deepened its footprint in the Balkans, and Sirma was well-positioned as a key tech partner across the finance, telecom, and public sectors in Bulgaria. In 2006, we launched Sirma Media to deliver electronic educational products, expanding our offerings in digital knowledge and media.
During these times, the major division - Sirma Solutions, led innovations in e-payments and mobile payments, becoming one of the first to introduce these services in Bulgaria. EngView Systems expanded its packaging industry capabilities, while Sirma Business Consulting, founded in 2007, focused on IT solutions for the banking sector. New R&D efforts strengthened expertise in NLP, semantic tech, and computer vision. A year later, in 2009, Ontotext became a subsidiary of Sirma. The same year, Sirma Solutions was recognized as the biggest service company within the Group.
In response to the growing demand for custom software development and IT services, we established Panaton Software in the U.S. to enhance our presence in North America. Meanwhile, the rise of cloud computing led to the launch of Daticum in 2009, one of the Balkans’ most advanced data centres. As Sirma transitioned into a holding company, it became Bulgaria’s largest IT group by 2010, employing over 400 people.
That same year, we gained global recognition when BBC Sport utilised Ontotext’s technologies for dynamic semantic publishing during the 2010 FIFA World Cup and the London 2012 Summer Olympics. Sirma was also selected to develop a conservation management system for one of the most prominent museums in the world.
The Third Decade and Beyond: Consolidation, Expansion, and Global Reach
Our third decade has seen global expansion and internal development. In 2014, we established S&G Technology Services in the UK to strengthen our expertise in the banking sector and build a strategic partnership with Temenos.
A significant milestone came in 2015 when Sirma Group Holding went public on the Bulgarian Stock Exchange, raising BGN 11.5 million to fund R&D and its M&A strategies. These resources fuelled the creation of a new research unit focused on computer vision and cybersecurity.
In 2017, we completed the Sirma Enterprise Platform, and developed the unique Museum Space - an integrated solution for museums and archives—while EngView Systems launched advanced video measurement tech and grew its global partner network. Flagship products like Diabetes: M gained international recognition, addressing critical needs in digital health. In 2018, Sirma Solutions won a large-scale tender from the European Free-Trade Association’s Financial Mechanism Office, beating 19 competitors to deliver a Grant Management System.
The global shift toward digitalisation during the COVID-19 pandemic propelled further transformation in banking, financial services, healthcare, and many other industries. Technologies such as open banking, cloud infrastructure, digital onboarding, and AI-powered customer experiences gained momentum. This period also saw Sirma pushing boundaries in AI-driven healthcare with its digital health record Medrec: M, evolving cybersecurity services, and launching fintech solutions. Sirma responded with an integrated approach, combining core software with domain expertise and IT consulting. With advancements in LLMs and NLP, we began incorporating GenAI into our solutions to maximise data value for businesses and customers.
As businesses began to recover, we also set our plans for potential inorganic growth in motion.
Strategic Growth Through M&As
Since 2021, Sirma has executed several strategic acquisitions to strengthen its portfolio and regional footprint. That year, we acquired Sciant AD, a software company excelling in travel, logistics, and hospitality tech. In 2022, the acquisition of TBI Info led to the founding of Sirma IsurTech.
In 2024, we initiated a corporate consolidation strategy to align subsidiaries under a unified structure, aiming for operational synergy and scale. The consolidation included Sirma Solutions, Sirma BC, Sciant, Sirma IsurTech, Sirma CI, and HRM Solutions. Meanwhile, product companies with distinct markets—EngView Systems, Sirma Medical Systems, and Daticum—continue to operate independently.
In 2024, we extended our regional footprint with a majority stake in the Romanian software company Roweb, reinforcing our growth trajectory. Sirma is targeting the Central and Eastern European (CEE) region alongside other crucial markets and expanding its presence in the United States, Canada, Brazil, Sweden, the United Kingdom, Germany, Romania, and Albania.
Looking Ahead: The Future of Sirma
Sirma’s 33rd anniversary marks a springboard for the future. We deliver transformative software leveraging AI, machine learning, and advanced analytics. By investing in talent, research, and partnerships, Sirma is set to lead in intelligent enterprise solutions, building on our legacy of innovation.
