Aleksandar Cabrilo, the CEO at HTEC Group and David Thomson, the CEO at Momentum Design Lab, after signing the M&A agreement in HTEC Group’s office in Belgrade. [photo by HTEC Group]
18 November 2021, San Francisco — HTEC Group, the global consulting, software engineering, and digital product development company founded in Serbia, today announces the acquisition of Momentum Design Lab, an award-winning Silicon Valley product design studio.
The acquisition, which will further strengthen HTEC’s product design capabilities alongside its core engineering offering, means the company now employs over 1,000 people globally across offices in the US, UK, Netherlands, Sweden, and Slovenia. Since inception in 2008, as a start-up in the Business Technology Incubator at the University of Belgrade, the company has grown from 250 employees in 4 development centers beginning of 2020, to now over a 1,000 full-time employees spread across 12 locations in 6 countries across Southeast Europe.
Momentum will help HTEC build digital products that transform industries and businesses and improve the lives of people globally. Momentum’s client roster ranges from 40 of the Fortune 500 companies to exciting start-ups. The company has propelled their technology clients to generate over 41 billion USD in exits or valuation.
Established in 2002, Momentum Design Lab is a pioneer of UX, CX, and product design. Rated as the top UX agency globally on B2B research platform Clutch five years in a row, the company operates from four offices across the world: Silicon Valley, New York, London, and Sydney. The company’s industry expertise spans key areas such as financial services, healthcare, martech, media and entertainment, enterprise software and consumer products, complementing HTEC’s existing engineering competencies in these fields.
“I am delighted to welcome Momentum into our fast-growing team. In Momentum we found values and a culture that matches our own — the urge for continuous learning and professional growth, a stellar reputation among its existing customers, and a clear passion for delivering excellence when designing digital platforms and products that matter. By merging top tech talent from our engineering centers in Europe with this Silicon Valley product innovation and design-thinking mindset, we are well-positioned to offer complete digital product development and digitization services to the best companies in the world. We will continue to look for companies that share our values and culture, as part of our broader growth strategy and goal of becoming the first company from Serbia to IPO on the NYSE.” comments, Aleksandar Cabrilo, the CEO of HTEC Group.
Momentum’s founder, David Thomson, commented, “We’ve been meshing technology, empathy and imagination in our pursuit of product value and have been looking for the right partner to help scale our capabilities for several years. As a company who is inventing the possible for our customers, it was important to find a partner that matched our design expertise and customer base with world class technology talent. HTEC’s deep technical knowledge exceeded our expectations and we’re excited to join forces to build disruptive products, drive innovation and transform the way business is done from the inside out.”
About HTEC Group
HTEC Group is a global consulting, software engineering and digital product development company that empowers the world’s best high-tech companies, disruptive startups, corporations, and Fortune 500 enterprises with innovative product design thinking and sophisticated engineering services. With headquarters in San Francisco and local offices in the US, the UK, the Netherlands, Sweden, and Slovenia, as well as 12 tech development centers across Southeast Europe, HTEC is well-positioned to deliver sophisticated digital products and platforms across domains including Healthcare, Retail, Transportation and Mobility, Logistics, FinTech, Green Energy, Media and Deep Technology.
About Momentum Design Lab
Momentum is a Silicon Valley design studio headquartered in San Mateo, with offices in New York, London and Sydney. The company offers design thinking-based and technology-driven services in digital product innovation, customer experience management, and digital transformation for which it was rated the #1 UX Agency globally on Clutch.co for 5 years in a row. Its customers range from startups to Fortune 100 companies.
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