Software engineering and digital product development company founded in Serbia HTEC The group acquired Sarajevo-based Mistral Technologies and its team of more than 300 experts, making it the largest technology company in the Balkan country.
With the latest acquisition, the HTEC team now numbers over 2,000 employees, with development centers across South Eastern Europe. The company operates in six countries, with offices located in Silicon Valley, London, New York, Minneapolis, Amsterdam, Stockholm and Gothenburg.
HTEC supports global clients in comprehensive digital product development, from strategy and conceptualization to large-scale digital product design and engineering, in areas such as healthcare, retail, transportation and mobility, logistics, fintech, green energy, media and deep tech.
“Going forward, we will continue to bring together by far the most talented technical and creative professionals in Southeast Europe and expose them to global market opportunities,” said Aleksandar Cabrilo, co-founder and CEO of HTEC , in a press release.
Strengthen its presence in South-Eastern Europe
The newest member of the HTEC Group, Mistral was founded in Sarajevo in 2010, providing projects of global significance to local professionals. Now, the Bosnian company seeks to complement and expand HTEC’s expertise in financial technology, telecommunications, multimedia and other key sectors.
“After building a successful business over the past 12 years in Bosnia and Herzegovina, we realized that a partnership with HTEC Group would bring great value to both the Bosnia and Herzegovina market and our business,” said Mersed Camdzic, co-founder and CEO of Mistral. said.
“We are perfectly aligned with the HTEC Group in terms of our values and service delivery and I am confident that we will soon become the world’s most sought-after partner of choice, for the most complex engineering challenges,” added Camdzis.
Founded in 2008, HTEC already has a strong development team in Eastern Europe, consisting of more than 2,000 engineers from Serbia, Bosnia and Herzegovina, North Macedonia, Romania and Hungary.
The company currently has 35 employees in four cities in Romania (Bucharest, Cluj, Iasi, Temisoara) and by the end of 2024 it plans to hire up to 450 professionals in the country.
In January 2022, HTEC raised $140 million from growth equity investment firm Brighton Park Capital to expand the company’s capabilities to serve its growing global customer base through acquisitions and organic growth.
