HTEC Group Buys Most Influential Design Studio Momentum Design Lab from Silicon Valley – First Company from Serbia to List on New York Stock Exchange?

Source: Netokracija/Tanjug Thursday, 18.11.2021. 13:39
The Serbian HTEC Group, one of the fastest growing tech companies in the region, announced today the acquisition of the American company Momentum Design Lab, which is globally recognized as one of the best product design studios.

HTEC Group (High Tech Engineering Center), which was founded in Belgrade and whose seat is in San Francisco, says in a press release that the acquisition places it among the world leaders in providing services of the development of digital products.

The acquisition and merger agreement was signed by a co-founder and the CEO of the HTEC Group, Aleksandar Cabrilo, and a co-founder and the CEO of Momentum Design Lab, David Thomson, in the offices of HTEC Group in Belgrade.

Aleksandar Cabrilo stated for the Netokracija portal that, with this acquisition, HTEC Group wanted to expand its knowledge and service portfolio in the field of design.

– The role of Momentum will be to boost and expand HTEC’s knowledge in the domains of product, CX and UX design and innovations, in which they have two decades of experience and reputation. We have cooperated with Momentum before as a partner and now we plan to bring the cooperation to another level. Momentum’s teams will work together with local teams in Serbia and the region on joint projects. The plan is to find new synergies in the next period, so that we would offer to our joint clients a much wider range of services, from the preliminary design to the realization – Cabrilo said for Netokracija.

Their ambitions don’t stop here. After the acquisition of this company, which has the cooperation with 40 companies from the “Fortune Global 500” list in its portfolio, Cabrilo announced that HTEC Group was considering becoming the first Serbian company that would list on the New York Stock Exchange.

– By combining our engineering talent with the innovative way of thinking in the Silicon Valley, we have a winning combination for the provision of services of digitalization to the world’s best companies. HTEC will keep actively searching for and acquiring companies which share our values and culture, which is part of a wider strategy for growth and reaching the goal of becoming the first company from Serbia to list on the New York Stock Exchange – Cabrilo announced the business plans for the Netokracija portal.

HTEC Group is a global company for consulting, software engineering and development of digital products.

This is the third and the most strategically important acquisition made by HTEC Group.

For HTEC Group, this acquisition means that it now employs more than 1,000 people globally, of which more than 850 in Serbia and 150 in the USA, Great Britain, the Netherlands, Sweden, Slovenia, Bosnia and Herzegovina, North Macedonia, Hungary and Romania.

Since its founding in 2008, as a startup within the Business Technological Incubator of the Technical Faculties of the University of Belgrade, the company has realized incredible results and the quickest growth in the region. In the past two years, it has grown fourfold from 250 employees in four technology-development centers in Serbia to over 1,000 employees in 12 locations in six countries of Southeast Europe.

It has already been mentioned that the portfolio of Momentum features 40 companies from the Fortune 500 list, as well as numerous interesting startups, and the company has helped its clients worldwide to reach an overall value of over USD 40 billion.

Founded in 2002 in the Silicon Valley, Momentum Design Lab is one of the pioneers in UX, CX and product design, which today has a global presence through its offices in San Mateo, New York, Sydney and London.

For five years in a row, the company has ranked as the first in the world in the field of UX design on the popular business platform Clutch.

With expertise in the development of digital products in the domain of finance, healthcare, marketing technologies, media and entertainment, software solutions and consumer products, Momentum will complement the existing engineering competences of HTEC in the same fields, the press release says.

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