Bulgarian software engineering company Anthill is set to be acquired by global digital engineering company Exadel. The acquisition, which is expected to close within two months pending regulatory approval, will integrate Anthill into Exadel’s European delivery network.
The deal will make Bulgaria Exadel’s second-largest delivery center in Europe.
“This is more than an acquisition – it’s a recognition of what we’ve built and where Bulgaria is heading,” said Georgi Gerginov, CEO of Anthill. “Together with Exadel, we’ll scale faster, innovate more, and create even more opportunities for tech talent across the region.”
Anthill’s acquisition highlights Bulgaria’s growing role in global tech
Founded in Sofia in 2019, Anthill is a software engineering company that builds and manages delivery teams for enterprise clients. The company focuses on data and enterprise software projects and also operates in US & DACH.
“We built Anthill around trust, talent, and long-term value,” said Kiril Kaykov, Co-Founder and Head of People and Marketing. “This acquisition opens up global career paths and learning opportunities for our people while preserving what makes us unique.”
Momchil Ivanov, co-founder, Head of Operations, noted:
“Operational excellence is our strength. With Exadel’s scale and infrastructure, we’ll deliver even greater efficiency and impact for our clients.”
The acquisition reflects the increasing M&A activity in Southeast Europe’s tech sector, as companies in the region attract interest from global technology firms. In March 2024, for instance, U.S.-based consulting company Synechron acquired Sofia-based software engineering firm Dreamix.
“Bulgaria’s tech ecosystem has emerged as a dynamic hub for enterprise technology, and Anthill is proud to have contributed to its growth,” said Andrey Bachvarov, Founder and Supervisory Board Member.
Anthill team
Exadel expands European presence
From Exadel’s perspective, the acquisition brings specialized engineering capabilities and regional depth as it accelerates its AI-first strategy and global delivery network.
Michael Boustridge, CEO of Exadel, said the company sees strong alignment between Anthill’s delivery approach and Exadel’s goals of scaling intelligent, efficient engineering capabilities. “We’re excited to welcome the Anthill team into the Exadel family.”
Exadel currently employs over 2,000 professionals worldwide, delivering digital transformation and software engineering solutions across the U.S., Europe, and Latin America.
