The Financial Times (FT), in partnership with the Bulgarian office of London-headquartered consultancy Xoomworks, plans to open a technology office in the Bulgarian capital Sofia in autumn 2018, according to a press release issued on Wednesday. The Bulgarian capital was selected due to its location and also because it's within easy reach of the FT London headquarters and "has the right technology talent which will help the team to scale and grow", Sofia-based communications agency United Partners quoted Xoomworks as saying in a press release. The new office will host FT's main technology team - FT Core, which provides the underlying platforms powering the FT.com website and supports platforms such as digital subscription systems, newspaper distribution, and content publishing. The company plans to hire 100 in the next 12 months. The Financial Times, one of the world’s leading business news and information organisations, has chosen to partner with Xoomworks, through the project model BOT (build, operate, transfer).The new office will become wholly owned by the Financial Times after two to five years. The Financial Times has paying redership of over 910,000 and about 714,000 subscribers for its digital content.