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INTERVIEW - Serbia-founded HTEC Group seeking acquisitions in Europe

INTERVIEW - Serbia-founded HTEC Group seeking acquisitions in Europe Miroslav Virijevic, HTEC Group CFO

BELGRADE (Serbia), September 16 (SeeNews) - U.S.-based technology services, consulting and software company HTEC Group, which was founded in Serbia, is actively looking for acquisitions which would help it grow in Europe, chief financial officer Miroslav Virijevic told SeeNews.

The group is seeking partnership with companies that would complement and improve its technical expertise, as well as help it expand to new markets, Virijevic told SeeNews in a recent e-mailed interview.

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"We are interested in acquiring technology companies that put their employees first, allowing them to express their full creativity, encourage them to reach their maximum potential, and prioritise satisfaction at work," Virijevic said.

This summer, HTEC acquired Bosnia and Herzegovina-based technology companies Mistral and WaySeven Technologies, further expanding its footprint in the country. The group has been present in the Bosnian market since 2019 and employs over 200 people in its Banja Luka office alone. The company also has offices in Sarajevo, Tuzla and Bijeljina.

"The acquisition of Mistral Technologies, and a number of other smaller companies based in Bosnia and Herzegovina, was the result of a strategic vision alignment between ourselves and the leadership teams within the acquired companies," Virijevic said, noting that the expansion in Bosnia was also stirred by the quality of the engineering talent in the country.

"Bolstered by the recent $140M investment from Brighton Park Capital, which we secured earlier in the year, we continue to further scale and expand our capacities through a mix of strategic acquisitions and organic growth."

Earlier this year, HTEC also tapped into a new SEE market - Romania, where it aims to create up to 1,000 jobs in Bucharest, Cluj-Napoca, Timisoara and Iasi, Virijevic added.

HTEC also has offices in Serbia, the US, UK, Netherlands, Sweden, North Macedonia, Slovenia, Bulgaria and Hungary, its website shows.

Apart from its expansion goals, HTEC also plans to continue to develop its portfolio of products and strengthen its capacities for service offering to clients, Virijevic said.

The group delivers digital products and platforms across domains including healthcare, retail, transportation and mobility, logistics, fintech, green energy, media and deep technology.

($ = 0.9960 euro)