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Kin + Carta lays out £30m for three acquisitions

Kin + Carta lays out £30m for three acquisitions

Global digital transformation consultancy Kin + Carta is acquiring Bulgarian software development services firm Melon Group and its subsidiaries, including Melon Technologies and Frakton.

The purchase comes shortly after London-headquartered Kin + Carta purchased the remaining 50% share in Loop, the Chicago-based e-commerce consultancy.

Sofia-headquartered Melon Group is a software engineering business with a 300-strong team of web, mobile and data specialists working across Bulgaria, North Macedonia and Kosovo. It is a Microsoft Gold Partner and its sector experience includes medtech, fintech, banking and human resources.

For the year-ending December 31, 2021, it had sales of €9m and an operating profit of €2.2m. Clients include Philips, Burger King and Nokia. The deal is part of Kin + Carta’s expansion in South Eastern Europe and complements its Greece business.

“The acquisitions of Melon Group and Loop mark a significant move in our ambition to scale globally and accelerate our growth,” said J Schwan, Kin + Carta CEO. “Identifying, acquiring and integrating brilliant new businesses broadens our reach and creates opportunities to learn from experts in their craft. In addition, expanding our nearshore production capabilities allows us to serve more clients, creating new jobs both onshore and nearshore.”

Krum Hadzhigeorgiev, CEO of Melon Group, added: “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. We’re now part of a global business, one that is as committed as we are to building a world that works better - for everyone.”

Kin + Carta also recently announced the intellectual property acquisition of Octain, a “responsible AI data platform” developed in Silicon Valley. Octain provides advanced insight, predictions and recommendations to clients governed by socially responsible AI principles.

Among the three acquisitions, which will cost the group a total of up to £30m, it has sold off its CRM specialist Edit and research and insights agency Incite.