Date: November 13, 2006

Hungarian IT firm Sense/Net to up revenues by 66% y/y to HUF 300 mln in 2006

Hungarian software maker Sense/Net, minority owned by US-based private equity fund Primus Capital Partners LLC, is planning to record revenues of around HUF 300 mln in 2006, up 66% on the year (y/y), a company official told Interfax in an interview. "Our revenues will come to HUF 300 mln in 2006, up from HUF 180 mln in 2005," Marketing Director and co-founder of Sense/Net Tamás Bíró said. Sense/Net, owned around 20% by Primus Capital, has developed an enterprise portal software dubbed Sense/Net Portal Engine, which the firm distributes itself and in part through a reseller network. Enterprise portals are company web sites where firms allow employees and customers to search and access and retrieve corporate information. The firm was recently listed 36th on consulting firm Deloitte's top 50 list of the fastest-growing technology firms in Central Europe (Deloitte Technology Fast 50 list), with the firm growing 172% between 2001 and 2005. "We have the great advantage of installing the software that we have developed ourselves," Bíró said. "This is currently the main advantage against local resellers of multinational vendors like IBM or Oracle." The enterprise portal market is a multi-billion forint market in Hungary, Bíró said. Among the company's clients in projects launched in 2006 were Hungarian power wholesaler MVM, gas utilities Főgáz and Tigáz, power firm E.ON, and state motorway firm AAK.

By Veronika Gulyás, Interfax

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