HTEC Group, a global consulting, software engineering, and digital product development company founded in Serbia, announced on November 19 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.
The company was launched in 2008 as a startup in the Business Technology Incubator at the University of Belgrade. By the beginning of 2020 it had 250 employees in four development centres. Its growth then accelerated and it now numbers over 1,000 full-time employees spread across 12 locations in six countries across Southeast Europe, said HTEC.
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 startups.
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 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 centres in Europe with this Silicon Valley product innovation and design-thinking mindset, we are well-positioned to offer complete digital product development and digitisation 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,” said Aleksandar Cabrilo, CEO of HTEC Group.
“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,” added David Thomson, Momentum’s founder.