Peta Holdings acquires majority stake in Cocoon Creations

Peta Holdings Ltd has announced the acquisition of the majority stake in Cocoon Creations Services Ltd.

The acquisition adds specialised technology and software services to Peta Holdings’ portfolio, aiming at the direct involvement of the group in the rapidly-growing field of digital services, as well as in the digital transformation of the public and private sector – both in Cyprus and internationally.

Cocoon Creations Services Ltd is an award-winning company with 10 years of expertise in consulting, the design and development of bespoke software solutions for mobile devices and the web, with a special focus on the digital transformation of companies. To date, Cocoon Creations has worked with renowned international companies in 13 countries, including: Deloitte, Metlife, Nespresso, Marcus Evans, as well as Cypriot companies such as: Primetel, Photiades Breweries, JCC and RIK and many others.

Peta Holdings Ltd includes in its portfolio companies with a wide range of services and products, such as fuel retailing (Staroil Cyprus), manufacturing and distributing Plastic packaging products (Peta Plastics), manufacturing and distributing Paint Brushes and Rollers (Peta Trading and Cypriot Jordanian Co.) and management of immovable property (Peta Estates).

“It is with great pleasure that the Cocoon Creations team becomes part of the Peta Holdings Ltd family,” noted Cocoon Creations Co-Founder and CEO Michalis Strouthos, Co-Founder & CEO. “Technology services is an ever-evolving industry, and this investment will create the right synergies and momentum for Cocoon Creations to reach new heights.”

Peta Holdings Ltd Executive Chairman George Petrou also expressed his optimism, saying: “we are excited in welcoming Cocoon Creations in our Group of Companies.

“Cocoon Creations is an award-winning dynamic company with proven past and knowledge to serve and support the needs of developing companies.”