- The Bulgarian platform for remote software specialists Motion Software announces its acquisition from Exadel, a global software consultancy and engineering company.
- The deal is of undisclosed amount and will enable Exadel to increase its presence across Europe by working with talent in Bulgaria, Romania, and Turkey.
- The acquisition of Motion Software will expand the portfolio of remote work opportunities for its employees of and will provide new positions and opportunities across a variety of tech companies.
“Since the start of 2022, we’ve been very actively looking for a new investor who will allow Motion Software as a business and remote workers platform to become a truly global company. I am happy to announce that we found this investor in the face of Exadel – a multinational software consulting company with about 2000 employees, which is headquartered in California, and generates more than $160M in revenue per year,” Christo Peev, CEO of Motion Software, shares for The Recursive.
Peev will continue performing his duties as the CEO of Motion Software and keep his focus on bringing innovation through the company’s proprietary Remote Work Platform and expanding its reach around the world. According to him, as part of a more resourceful organization, the existing leadership team would now have a stronger impact on the way they shape The Future of Work together.
“We will be able to leverage the Exadel operations to establish new remote talent locations through our Remote Work Platform and offer an even more diverse pool of international tech talent. It will be a combined effort with the main goal not to disrupt what Motion Software has built so far, but to enhance the capabilities of both teams,” Peev adds.
Remote culture DNA
The story of Motion Software began in 2015 when Christo Peev founded the company as a 100% remote startup. Soon, Peev opened the first office of Motion Software in London, established a separate UX/UI design team, and began servicing fintech clients from all around the UK and Switzerland. In 2020, the company launched its Motion Software Bootcamp initiative by getting into a strategic partnership with the Sofia-based software training academy SoftUni. The company also developed partnerships with Software Group and Progress. Around two years ago, the company also released its own recruitment platform that automates the hiring process and solves administrative challenges for talents and employers.
Today, Motion Software has around 80 employees and has worked with well-known mid-market and large enterprise clients such as Montway, PubGalaxy, Progress, and LockTrip. The company has specialized in providing clients with a dedicated on-demand team in the fields of blockchain, AI, analytics, healthcare, and eLearning.
Increasing the opportunities for the software remote workforce
“The acquisition of Motion Software “significantly increases our presence across Europe, adding talent in Bulgaria, Romania, and Turkey. Their remote work platform, designed from the ground up, opens new opportunities for streamlining the matchmaking process for our clients, and a suite of tools that ensure the success and well-being of the remote software specialists on a global scale. I am confident that adding Motion Software capabilities and locations alongside Exadel’s service and solution offerings will create significant value for our diverse talent and clients,” Darren Oberst, CEO of Exadel, comments in a press release.
Exadel is a global software engineering, business consultancy, and solutions company that has been creating transformative strategies, platforms, and products for more than 20 years. The company is a Forrester-recognized market leader in distributed Agile, and is fully owned by a bigger organization – the equity fund Sun Capital which already has invested more than $14B in hundreds of businesses.