Star Storage announces the completion of a transaction consisting in the acquisition of a majority stake by Axxess Capital, the investment manager of Emerging Europe Accession Fund.

Through this transaction EEAF made a capital injection of € 5 million , which aims to increase the adoption of new market segments , expanding  in emerging markets and technologies.

“We believe in long-term prospects for the company services and we expect a  double-digit market growth in the coming years . At the same time , we are eager to work directly with the founder and the management team to further develop the company . We are optimistic that our experience of 15 years in financial, industrial and services business development  in Romania and South East Europe will help the company’s efforts to accelerate growth, strengthen market leadership and increase international presence , “said Horia Manda , Managing Partner of Axxess Capital.

Star Storage was founded in 2000 and managed to build a solid portfolio of solutions and services in the field of information management.  Company is present on the market with 3 lines of services : cloud and data center, document processing and archival outsourcing, document production and distribution.

Over the past two years , the company began to expand its international presence. Its cloud services are provided directly under the brand StarVault and through selected strategic partners .

“Investing in Star Storage was a necessary element to expand our international presence and fully benefit from the value we have created in recent years. We have a great team , we have invested a lot of time and a lot of passion and we managed to develop software really valuable and a complete portfolio of cloud services already successful at national and international level . I would like to thank everyone at Storage Star team for contributing to our success , “said Catalin Păunescu , founder and CEO of Star Storage.