ENTERSOFTONE (ES1), a leading provider of ERP software and business applications in Greece, with operations across Southeastern Europe, announces Hg’s majority investment in its share capital. Hg is one of the leading investors in European and transatlantic software and services companies.
This is Hg’s first investment in Greece, with ES1’s valuation standing at slightly above €1 billion. Olympia Group and Imker Group will remain shareholders in ES1, retaining significant stakes, alongside the management team led by Chief Executive Officer Antonis Kotzamanidis.
ES1 was created in 2025 through the merger of Entersoft and SOFTONE. Headquartered in Athens, the company also operates in Romania, Bulgaria and Cyprus. Its product portfolio includes ERP, CRM, Accounting, Payroll, HCM, WMS, eCommerce and e-invoicing solutions, covering the full range of business needs. ES1 has established itself as a market leader in business software and e-invoicing in Greece, serving more than 90,000 customers. It combines deep expertise with innovative technologies, offering reliable, comprehensive and fully regulatory-compliant solutions to businesses and professionals of every size and industry.
The investment comes at a time of rapid digitalisation among small and medium-sized enterprises across Greece, driven primarily by the country’s transition to mandatory B2B e-invoicing through the myDATA framework. This development forms part of a broader European trend, as the EU’s “VAT in the Digital Age” reforms are driving Member States toward electronic invoicing.
Hg will work closely with ES1’s management team to complete the transition of all the company’s products to the cloud, further accelerate product innovation and expand into neighbouring markets. Hg Catalyst, Hg’s in-house incubator for artificial intelligence products, will also support ES1 in developing new AI-enabled products across its entire platform. This development further strengthens ES1’s leadership in the field of artificial intelligence and builds on the investments it announced last year.
Antonis Kotzamanidis, CEO of ES1, said: “ES1 was created to become the leading force in business software in Greece, and this partnership gives us the resources to go further and faster. Hg has a depth of understanding of business software that few investors possess, and this will give us a meaningful competitive advantage as we develop new products and deepen our capabilities in artificial intelligence.”
Alexandre Flavier, Partner at Hg, said: “Antonis Kotzamanidis and his team have built an outstanding technology platform, with a significant lead in e-invoicing and innovative products that customers truly love. This investment reflects our confidence in the Greek market and our commitment to building a long-term, AI-enhanced software leader in the region.”
