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British public company Kin + Carta set to acquire Bulgarian software company Melon

UK-based digital consultancy Kin + Carta announced that it is set to acquire Bulgarian software company Melon,
Image credit: STIKK/Twitter: Krum Hadzhigeogiev, CEO of Melon
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UK-based digital consultancy Kin + Carta announced that it is set to acquire Bulgarian software company Melon, together with its subsidiary in Kosovo called Frakton. According to the London stock exchange, the deal is worth £23.5M. The acquisition is now subject to the Macedonian and Kosovan competition authorities’ approval, which is expected to be reviewed in the next four to eight weeks. 

Melon’s work spans from web to mobile, backed by UX/UI, QA, Big Data and DevOps teams. Founded in 2003, the company has offices in Sofia and Veliko Tarnovo in Bulgaria, and Skopje in North Macedonia. Last year, Melon had revenues worth €9M.

Going global with digital transformation 

 “Joining the Kin + Carta family enables us to make the most of the significant surge in demand for digital transformation as a result of the pandemic. It’s an exciting time for our sector, a time of growth. We’re excited to be part of a global business, one that is as committed as we are to building a world that works better for everyone”, Melon’s CEO Krum Hadzhigeorgiev said in a statement.

For Kin + Carta, the impending acquisition of Melon marks a significant move for the company’s growth.

“In addition, expanding our nearshore production capabilities allow us to serve more clients, creating new jobs both onshore and nearshore. Significantly, Melon’s culture aligns with our own mission to build a world that works better for everyone, as we champion responsible business as a core tenant of our strategy”, Kin + Carta’s CEO J Schwan noted.

Melon’s original growth plans were for ambitious expansion in the region, as well as growing the teams in the current offices while entering new talent ecosystems, Hadzhigeogiev emphasizes.
With joining Kin + Carta and aligning with their growth strategy, we are only accelerating our plans. Hopefully, we will soon get all necessary clearances to kick off all our planned integration and business development activities with full speed, he tells The Recursive.

Kosovo-based software development services company Frakton is also a part of the acquisition. Established in 2007, the Kosovan company creates web and mobile software solutions. In October 2021, Melon acquired 51% of Frakton, as a strategic investment and a vital step for its expansion into the SEE region’s software development talent market.

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“This will lead to achieving our goal of becoming one of the biggest tech companies in Kosovo and also the best workplace for people to be part of”, Frakton’s CEO Celik Nimani said back then.

Together with Melon, the company is now set to join Kin + Carta’s global family which includes more than 1,700 stategists, engineers, and creatives around the world.

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Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.