SERSTECH AB: Serstech significantly expands its R&D capacity

Serstech is expanding its R&D team and today added its fifth new team member since early May. With the additional engineers in place, Serstech has more than doubled its R&D capacity in software development. The expansion is in response to the increasing demand for software solutions from its customers.

One of the first deliveries from the expanded team will be the FDA certified version of ChemDash for the pharmaceutical and life science markets. The software is planned to be launched in September and will open this market, estimated to be worth around 30 MEUR by 2020, for Serstech’s software and hardware products.

"The non-governmental markets have much shorter sales cycles and the fast growth of handheld devices in pharma and life science makes this market very interesting for us”, says Serstech CEO Stefan Sandor.

The additions to the team have been made in Romania, where Serstech now has in total seven people working full-time. The main reason for establishing an R&D center in Romania is that the recruitment of skilled R&D engineers is faster and there are more qualified candidates to choose from, compared to in Lund. In addition, the cost and risk for Serstech are both significantly lower in Romania than in Sweden.

"We have been working with two of our Romanian colleagues for more than a year now, with high efficiency and well-working integration with our Swedish team. We are happy to have been able to make this expansion at a time when companies in our geographical vicinity are struggling to find skilled labor”, continues Stefan Sandor.

For more information, please contact

Stefan Sandor, CEO Serstech AB
+46 739 60 60 67
ss@serstech.com

Thomas Pileby, Chairman of the board at Serstech AB
+46 702 07 26 43
tp@serstech.com

Serstech website: www.serstech.com

The information was submitted for publication, through the agency of the contact person set out above at 12:00 CET on June 11, 2019.

Certified advisor to Serstech is Västra Hamnen Corporate Finance AB, phone: 040-20 02 50, e-mail: ca@vhcorp.se.

About Serstech
Serstech delivers solutions for chemical identifications and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and United Nations. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech is traded at Nasdaq First North and you find more information about the company at: www.serstech.com.