The Financial Times (FT) in partnership with information technology consultancy Xoomworks are establishing a research and development (R&D) centre in Sofia in autumn 2018, according to a press release.
The new centre will host FT's main technology team - FT Core, which supports a diverse portfolio of platforms, including the FT.com website, digital subscription systems, print distribution, and content publishing.
The 130-years old news organisation chose the Bulgarian capital because of its location, fast access to FT's headquarters in London and technology talents that would help the team scale and grow.
The company will hire 100 people over the next 12 months. Job openings are available for software engineers, business analysts, project and product managers.
FT is one of the world’s leading business intelligence providers and most trusted news organisations. The newspaper was founded on January 9, 1888 by James Sheridan and Horatio Bottomley. Describing itself as the friend of
"The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, and the Legitimate Speculator"
it was a four-page journal entitled the London Financial Guide. Sheridan and Bottomley changed its name to Financial Times on 13 February 1888.
It took a further five years before the FT adopted its iconic pink coloured hue to distinguish itself from other stockbroker manuals flying around the City.
In 1945 it merged with its closest rival, the Financial News (which had been founded in 1884). In 1957, Pearson, a British multinational publishing company bought the FT.
In 2015, the Financial Times Group was sold to Japanese media company Nikkei for £844m ($1.32 billion). The Nikkei, formally known as The Nihon Keizai Shinbun, is the world's largest financial newspaper, with a daily circulation exceeding three million.
The FT has employed some of the leading figures in media and politics, including Robert Thomson, Chief Executive of News Corp former British finance minister Nigel Lawson and Ed Balls, an adviser to former British prime minister Gordon Brown.
FT.com has 4.5 million registered users and over 714,000 digital subscribers, as well as 910,000 paying users.