Slovenian mobility leader joins forces with Canadian tech giant

Margento R&D, a Maribor-based provider of mobility and mobile payment solutions, has been acquired by Enghouse Systems, a Canadian software and services company, for an undisclosed amount.

"We are excited to join forces with Enghouse. We can expand Margento's presence and create synergies in our sales," Margento R&D chief executive Žiga Schmidt was quoted as saying in a joint press release, CE Report quotes The Slovenia Times.

Best known for managing the Urbana city card in Ljubljana and as the vendor behind the Valu mobile wallet, Margento R&D is a provider of solutions for transit fare collection, automatic vehicle tracking and payment solutions.

The company posted net sales of €4.5 million and a net profit of €50,000 in 2023, the latest year for which data are publicly available.

Enghouse Systems, which is listed on the Toronto Stock Exchange, is much larger, its full-year revenue exceeding €500 million last year.

Margento R&D's ownership is not clear in public records but Necenzurirano, an investigative news portal, says it was controlled by entrepreneur Miloš Urbanija via a Dutch company.