HTEC Acquires Execom to Create a Consulting and Engineering Services Powerhouse

At HTEC Group, we firmly believe that the only way to manage a deep crisis, like the recent one caused by COVID19, is to focus on growth even more and provide ever more value and support to our customers. Therefore, we decided to support our ambitious organic growth plans with an acquisition that gives us expansion both in terms of engineering capacity and additional domain expertise in new industry verticals.

Being very customer centric and paying special attention to our corporate culture and the professional growth of our people, we have found such values in another technology development company from Serbia, Execom. Execom was one of the first (founded back in 1995) and most successful software engineering companies in the city of Novi Sad engaging close to 200 professionals across domains and technologies. In Execom we saw the match with the most important aspects of our organization — the core engineering DNA and the people-first culture with a strong drive to exceed the expectations of our customers over and over again.

While at HTEC we are mainly focused on the US, the UK and the Nordics market, Execom brings more of a European focus with a strong customer base in Germany, Switzerland and the Netherlands. Combined, we will be servicing customers through various verticals including Medical Technologies, Digital Retail, Industry 4.0, Transportation, Shipping & Logistics, Financial services, Telecommunications, Energy Management, Digital Platforms and Marketplaces, as well as Consumer Devices and IOT.

Following the acquisition, with 600 people on staff, including engineers, product designers, creative thinkers and business consultants skilled in product development, hardware and firmware engineering, data science, artificial intelligence, and scalable cloud platforms, we are able to deliver fully integrated solutions to our global customers. This expansion comes in the moment of increased demand for premium technology development talent coming from organizations that are looking to accelerate their digital transformation, expand engineering teams and rethink overall business strategy with more focus on digital, automation and e-commerce. 

Commenting on the acquisition success, Dusan Kosic, the President of HTEC Group, said:

“We say that we are on the mission to build the globally recognized consulting and technology development services powerhouse, a center of excellence that combines deep tech engineering with bursting creativity to build products and enterprises of the future. This acquisition is one step closer to that goal and will provide more career growth opportunities for our people and more value and services for our customers. “

Elaborating further on the timing of the acquisition and in view of the future developments, Aleksandar Cabrilo, the CEO of our company, added:

“The recent crises caused by Covid19 wasn’t the sole driver of change and disruption for many businesses and industries. My view is that it has just accelerated the inevitable changes which had started happening long before the situation was exacerbated by the crisis. This acceleration came at an unprecedented pace, especially for sectors like retail, hospitality and transportation that suffered tremendously. For some, however, including healthcare and logistics, it has created a boost in demand that became hard to manage without digital sophistication. Therefore, even those companies that were hesitant to transform to digital business models and invest more into their digital ecosystems now understand that they will either change rapidly and invest more aggressively into the digital capacities of their businesses, adjusting to the new market conditions quickly, or they will be wiped out from the market.”

At HTEC, in addition to this acquisition, we are constantly hiring business, creative and engineering talent to be ready to support global customers that are starting new digital initiatives, creating new products, expanding their engineering teams, or looking for strategic guidance on how latest technologies can help their business thrive. In order to build a great company we are always looking for great people to join the company and share this exciting journey with us.

Combining bursting creativity and deep engineering we are creating enterprises of tomorrow!