The Financial Times, one of the world's leading business news and information organisations, plans to open a technology office in the Bulgarian capital Sofia in autumn 2018.
The international newspaper, which has a daily readership of 2.2 million people worldwide and 4.5 million registered users on its website FT.com, will partner with the Bulgarian office of London-based consultancy Xoomworks to manage the project.
The new premises will house their FT Core technology team responsible for maintaining the award-winning FT.com website's internal systems. The FT Core team supports a comprehensive portfolio of platforms, including online subscription software, distribution of print media and content publishing.
Sofia was selected because of its convenient access to the London headquarters of the company, and the abundance of local tech talent to aid the team and company growth.
The new facility will create close to 100 job positions within the next 12 months, with a particular focus on software engineers, business analysts, and project and product management specialists.
FT's partnership with Xoomworks is through the BOT (Build, Operate, Transfer) project financing model, with the new technology centre expected to come under full ownership of FT after two to five years.