Axxess Capital, investment manager for Emerging Europe Accession Fund (EEAF) acquired the main shares package in Star Storage, Romanian provider of stocking, archiving and info management (data and document), outsourcing services and cloud services.
Star Storage was founded by Catalin Paunescu in 2000 and built a solid portfolio of solutions and services in information management. During the last few years, Star Storage made important investments: the most modern and safe data center Tier-3 in Romania and a center for conversion of documents and electronic archiving, now one of the biggest and advanced in CEE and a center for documents production.
During the last 2 years, the company started to expand its presence on international level with a product offer for protecting and managing info, varying from own software products to advanced solutions developed using top global platforms and cloud services. Star Storage’s cloud services are provided under the brand StarVault and via selectedb strategic partners
The take over of the main shares package came with an investment of capital of Euro 5M, that aims to increase the delivery capacities for company’s cloud services, both apps and infrastructure services, improving operations and adopting new market segments and geographical zones, expanding IPs and actives in emergent technologies.
The investment made by Emerging Europe Accession Fund in Star Storage aims to accelerate company’s business development. We believe in the long term perspectives for information management services and solutions and we expect a double digits growth of the market for the next years. In the same time, we are anxious to work directly with the founder of the company and the capable management team in order to keep developing the company. We are optimistic that our 15 years experience in developing financial, industrial and services businesses in Romania and South-East Europe will strongly support company’s efforts aimed to accelerate growth, consolidate its position as market leader and increase the international presence
Managing Partner Axxess Capital
EEAF’s investment in Star Storage was the needed element in order to expand our presence at international level and fully benefit of the value we created during the last years. We have an extraordinary team, we invested a lot of time and passion and we managed to develop software products that are really valuable and a portfolio of complete cloud services, already successful at national and international scale. I would like to thank to all in Star Storage’s team for their contribution to our success
Founder & CEO Star Storage
Star Storage is a Romanian company of information technology services, with yearly turnover of over Euro 20M and more than 400 employees. The company, positioned as leader of Romanian industry, is offering services to an extended base of clients, offering information stocking, archiving and management for Romania and Moldavia.