Top Group buys 70% of AppGreat in deal worth up to €5M
What's the deal? Israel's Top GroupDealroom has a profile for this one. Try Dealroom → has acquired 70% of software development firm AppGreatDealroom has a profile for this one. Try Dealroom →, which operates in Bulgaria and Romania, in a deal worth up to €5 million. The acquired operation will be rebranded as TopShoreDealroom has a profile for this one. Try Dealroom →.
The terms: Top Group will pay roughly €2.7 million at closing, with up to €2.3 million more contingent on gross-profit targets. AppGreat posted 2025 revenue of about €5.3 million and net profit of roughly €0.7 million.
What each side does: Founded in 2019 by Josh Shoham and Rami Nachum, AppGreat provides development, testing, and AI-training services to tech companies on an offshore model. It employs more than 100 software specialists across Bulgaria and Romania; Nachum and Shoham will run TopShore within Top Group.
The strategic rationale: The deal extends Top Group beyond Israel and strengthens its offshore software development capabilities. TopShore pairs an eastern European development workforce with Israeli management — from defining the need through onboarding and performance management — covering backend, web, mobile, cloud, QA, DevOps, data, and AI.
Why now? The acquisition lands as technology organisations rethink how they build development teams, increasingly turning to global models alongside local hiring. A stronger shekel is raising domestic development costs, pushing Israeli firms to move teams abroad.
What changes for customers? Clients can build and scale teams quickly without setting up their own offshore operation, Top Group says. "For our customers, this means the ability to set up and expand teams quickly, without building an independent offshore infrastructure and without giving up a local professional and managerial point of contact," said co-chief executive officer Shmulik Milner (translated from Hebrew).
The signal: The deal reflects a shift toward hybrid development models that combine lower-cost global talent with local oversight. "Moving development teams abroad is a strategic necessity," said Nachum, co-chief executive officer of AppGreat (translated from Hebrew) — a view now shaping how Israeli tech firms staff their roadmaps.
Read more: itnews.co.il
Image credit: appgreat
