The IT company MODUS X is developing plans to enter the European market, considering it a priority, since its key client – Energy Holding DTEK – is represented there, but allows the possibility of entering other markets, in particular the USA, its CEO Dmytro Osyka said.
“On the one hand, our task is to provide the necessary services and maximum support to the DTEK group of companies wherever they are located. We have part of the team abroad. True, it is not very large, but it is there. On the other hand, we are separately studying the market and the need to open a separate office. In this case, we are looking more at Poland as a place from which it would be convenient for us to serve European clients,” Osyka said in an exclusive interview with Interfax-Ukraine.
According to him, the European market is interesting because it is quite unique, and there are already many companies on it that can provide certain services.
“From what is available now, European clients and partners in this market offer us cooperation. These are niche services related, for example, to migration, let’s say, from the cloud of one provider to the cloud of another and vice versa. Both are market leaders, I think everyone can guess who we are talking about. At the same time, we have extensive expertise in both,” Osyka gave an example of work in Europe.
He described this as “very specific requests so far,” so the company has no big plans to ambitiously capture this market, but it is analyzing it, since its internal client, DTEK, is located there.
“So it would be a sin not to work in this market, and we are preparing everything for this,” noted the CEO of MODUS X.
He noted that, accordingly, the company is focusing on Europe, but at the same time does not reject, for example, the American market, which, according to him, is more interesting due to higher margins and the possibility of additional earnings.
“If our clients need our services there, why shouldn’t we go after them?” explained Osyka.
At the same time, he noted that there are barriers to entering such markets, in particular, language, mental, and time differences.
The CEO of MODUS X reported that the company was formed at the end of 2022, separating from the structure of the DTEK energy holding after implementing the three-year digital transformation program of the DTEK Modus group of companies, in order to gain competitiveness in the market, including outside Ukraine, and gain new prospects.
DTEK owns MODUS X, but now it works not only with group companies, but also focuses on unrelated clients both in the Ukrainian market and abroad. Since March 2024, it has attracted 14 new clients not from the DTEK group, including large Ukrainian businesses from such industries as retail, banking, automotive distribution, agricultural and food production. In the energy sector, its share as an IT company is at least 25%. The company employs 700 people.