Checkmate in business: Alan Trefler’s Pegasystems acquires Turkish firm Ultima

Pegasystems, the renowned software giant founded by Alan Trefler, a prominent figure in both the tech industry and the chess world, has acquired Ultima – a Turkish company.

Known for its global leadership in software solutions, Pegasystems marks its direct entry into the Turkish market with this acquisition, which includes approximately 5,000 employees.

Chess master turned tech titan

Trefler, who achieved the world championship in chess at the age of 21, began his journey into both chess and software engineering early in life. In 1983, he founded Pegasystems, which today boasts a workforce of nearly 5,000 and a revenue of $1.5 billion, collaborating with major entities like ING, Lloyds Banking Group, PayPal and Cisco across over 40 countries.

Pegasystems announced the acquisition of Istanbul-based Ultima IT through its official website.

The transaction, expected to be finalized by the end of this year’s fourth quarter, strengthens Pegasystems’ existing support network in Türkiye, enhancing local sales, delivery, and support resources for its customers.

Trefler, Founder and CEO of Pegasystems, emphasized the longstanding successful partnership between Pega and Ultima, spanning over seven years.

This acquisition will bolster the robust support network already in place for our existing customers in Türkiye, bringing Ultima’s proven expertise into the Pega family. We aim to deliver the expected levels of application expertise, service and support, ensuring continuity in trusted relationships

Alan Trefler

Ultima with 30 years of experience

Sinan Cilesiz, General Manager of Ultima, with a 30-year history in Türkiye, expressed enthusiasm about the acquisition, highlighting their strong relationship with Pegasystems and belief in the benefits of Pega’s software.

Ultima, known for its strategic business applications and IT infrastructure development across various sectors from cloud technologies to cybersecurity, collaborates with leading Turkish companies such as Is Bankasi and Vodafone.