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When a tough history becomes your asset: Bulgaria's plan to be a major force in technology

December 17, 2014

Bulgaria may be among the poorest members of the European Union, but its efforts in the IT sector are beginning to pay off: the fastest developing local company has a revenue growth rate of over 300 percent in the last five years, reported

Meanwhile, this year marked the beginning of the American dream for one Bulgarian startup founded in a dorm room: it was bought for $260m by a US company, a remarkable success for the local market.

And that's not all: Bulgaria is maintaining its competitive edge in outsourcing with HP, IBM, Microsoft, Oracle, VMWare, and SAP witnessing double-digit growth in their local operations. Overall, the Bulgarian technology industry is about to reach an all-time high in its contribution to the country's GDP.