May 29, 2023

Athens News

News in English from Greece

Facebook creates innovation center in Patras

US company Meta is setting up an innovation center in the Greek city of Patras with 35 young scientists for tech giant Facebook, according to GEMI.

In February 2022, Facebook, through its parent company Meta, acquired Greek startup Accusonus, having received 100% of the company’s shares. The amount that Facebook spent on the Greek company was not disclosed, but according to local media, we are talking about amounts ranging from 80 to 100 million euros.

The innovations of Accusonus owners – Ilias Kokkini, Alexandru Tsiflidis and Michalis Tsanne from Patras – have attracted the interest of the tech giant, and today about 2 billion Facebook users use the service, the first steps of which were made in Greece.

According to GEMI’s founding document dated March 14, Patras-based Edge Network Infrastructure Services Greece’s sole shareholder is Meta’s Irish subsidiary, Edge Network Services Limited. The authorized capital of the company is 1 euro, the company is registered in the register as IKE.


Three people are the managers of the company. All of them are leaders of Meta. In particular, Nisarg Pankaj Jariwala, Raj Pul Singh and Maria Begona Deirdre Fallon are recognized as trustees. The first two people are US residents registered in Fremont, California, and the last one is in Dublin, Ireland. The legal representative of the company in Greece is Mr. Vassilios Katsoulieris, a resident of Patras.

Deal 2022

In February 2022, Meta, the parent company of Facebook, goes ahead with the acquisition of Accusonus, an innovative Greek startup specializing in advanced audio technologies, founded by Alexandros Tsilfidis and Ilias Kokkinis.

The paradox of Accusonus is that he was not famous in his hometown at all, but instead became famous in the startup circle as well as in the music industry, thanks to his innovative artificial intelligence software and digital audio processing tools.

How it was founded

The founders of the company are Alexandros Tsilfidis and Ilias Kokkinis from Patras. Ten years ago, after graduating from university, two young people put into practice their love of music. Ilias Kokkinis even played drums in a local rock band in Patras. Alexandros Tsilfidis, for his part, wrote soundtracks for theatrical productions and films. Less than a year later, Michalis Yannes joined their company as an investor. Mr. Yannes has experience in this area as he was the CEO of Aware, a Wall Street company. Accusonus is headquartered today in the United States of America.

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