HTEC Group is thrilled to announce the acquisition of Mistral Technologies, one of the leading software engineering companies in Bosnia and Herzegovina. The acquisition expands HTEC’s overall engineering capacities, technical expertise, and unique domain knowledge by the collective know-how of more than 300 experts.
With the addition of Mistral, HTEC now boasts nearly 600 employees in Bosnia and Herzegovina, making it the largest software engineering power in the country. Globally, HTEC’s team has grown to more than 2,000 employees with the main engineering forces interconnected across development centers in Southeast Europe — where the company operates in six countries — together with creative and consulting offices located in Silicon Valley, London, New York, Minneapolis, Amsterdam, Stockholm and Gothenburg.
“I am happy to say that today we acquired Mistral Technologies, one of the best technology companies in the region, clearly a market leader in Bosnia and Herzegovina, with the passion, leadership skills, engineering excellence and company values that match our own. 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.” — Aleksandar Čabrilo, the founder and CEO of HTEC.
Since its foundation in Sarajevo in 2010, Mistral has positioned itself as the employer of choice for top engineering talent in Bosnia and Herzegovina, bringing globally relevant projects to local professionals. With an impressive client portfolio of Fortune 500 companies, Mistral will complement and extend HTEC’s domain expertise in fintech, telco, multimedia and other key industries where it has more than 12 years of experience delivering creative tech solutions to its primarily US client base.
“What we wanted was a strategic partnership with a company that shares the same values—the company that puts people first! We joined HTEC Group to support their team in building a fantastic ecosystem for the IT community in Bosnia and Herzegovina and to work together on more than 130 exciting and cutting-edge projects for the clients, including those on the Fortune 500.” — Mersed Čamdžić, the founder and CEO of Mistral.
The worldwide success of both companies stems from their ability to hire the best talent in the region and provide outstanding services to their customers. United by a people-first approach, HTEC and Mistral have deeply aligned organizational cultures and the shared goal of becoming the best platform for their employees’ professional development and career growth.
The acquisition of Mistral comes on the heels of the recent $140M investment from Brighton Park Capital. Bolstered by this substantial recognition of our growth trajectory, we are continuing to further scale and expand our capacities through a mix of strategic acquisitions and organic growth.
Stronger together, we are able to provide an extended service offering to our clients, additional technology and product design capabilities, and secure long-term stability and growth for both our clients and employees.