Athens, 21/11/2024 - Performance Technologies S.A. (hereinafter referred to as "PT") is pleased to announce its investment in the Irish company Continuous Software Ltd (hereinafter referred to as "CS"), through its wholly owned subsidiary Performance Technologies (Cyprus) Ltd. Specifically, PT participated in the capital increase of CS with an investment of €500,000, acquiring a 5% equity stake in the company.

Headquartered in Dublin, Ireland, and with offices in London, Istanbul, Riyadh, and Toronto, CS specializes in Project Portfolio Management (PPM) technology. Its flagship platform, aangine, leverages artificial intelligence to provide advanced capabilities for managing complex projects. It aligns teams, budgets, and schedules with an organization's strategic objectives, while simultaneously identifying and resolving resource demand conflicts and proposing optimal schedules to maximize business value.

PT's decision to participate in the first seed financing round of €2 million, which also included a System Integrator and venture capital investors from Saudi Arabia, is based on the innovation and value of CS's technology, which has already been integrated into PT's solutions portfolio. This collaboration supports PT's mission to provide its customers with tools that improve strategic resource management and enhance the efficiency of complex project execution. The aangine platform has already been utilized by enterprise customers in Greece, achieving significant improvements in functionality and strategic decision-making.

In addition to its participation in CS's capital increase, PT will have a seat on the company's five-member Board of Directors and the option to make further investments in a second financing phase within 12 months, potentially increasing its equity stake to 12.5%.

With the funds raised, CS plans to expand its operations across Europe, the Middle East, and Africa while preparing for entry into the U.S. market, which presents significant opportunities for strategic project portfolio planning solutions.

Dionisis Hintzidis, CEO of PT, stated:"Our investment in Continuous Software Ltd reflects our vision to foster innovation and provide our customers with solutions that support their strategic growth through cutting-edge technology. CS's aangine platform perfectly aligns with the needs of our enterprise customers, ensuring more precise and efficient management of complex projects. We have already implemented the platform for key customers in Greece, and through our participation on the Board of Directors, we aim to strengthen our collaboration with CS while expanding our presence in both the Greek and international markets."

Levent Ozalp, founder and CEO of CS, added: "Performance Technologies' support validates our vision and allows us to accelerate our international growth while maintaining our commitment to delivering strategic planning and resource management solutions. The aangine platform enhances organizational agility, enabling businesses to adapt swiftly to market challenges. With the additional funding, we plan to increase our workforce by 40% by the end of 2025, focusing on technical, support, and sales roles. At the same time, we will strengthen our partnerships with technology companies such as OpenText, Dell, and MongoDB, offering even greater value to our customers."

Learn More

For more information about CS and the innovative aangine platform, visit: www.continuous.software.

Contact Information

For Marketing Communications:
Dimitra Kontou
Email: marketing@performance.gr
Phone: +306977650566

For Investor Relations:
Euaggelia Papanikolaou
Email: ir@performance.gr
Phone: +306988205711