The publicly listed B Corp is driving global expansion with raft of acquisitions in Europe and US
Kin + Carta has agreed to acquire Bulgarian software development company Melon Group and its subsidiaries, including Melon Technologies and Frakton LLC. The purchase comes shortly after Kin + Carta purchased the remaining 50% interest in Loop, the Chicago-based e-commerce consultancy.
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The acquisitions bolster Kin + Carta’s pure-play digital transformation capabilities, while expanding the service capabilities and geographic reach of the publicly listed B Corp’s purpose-driven global growth strategy.
Melon Group is a fast-growing software engineering business with a 300-strong team of web, mobile, and data specialists working across Bulgaria, North Macedonia and Kosovo. Its sector experience includes medtech, fintech, banking, and human resources. It is headquartered in Sofia and led by chief executive Krum Hadzhigeorgiev. This pan-european expansion is part of Kin + Carta’s expansion in South Eastern Europe and complements Kin + Carta Greece, as the company looks to build a new European delivery hub.
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The acquisition is subject to clearances from the North Macedonian and Kosovan competition authorities and will complete following these clearances, expected to be in the second quarter of 2022.
Kin + Carta has also purchased the remaining 50% interest in Loop, the Chicago-based e-commerce consultancy. Full ownership of Loop strengthens Kin + Carta’s digital commerce capabilities. Loop has delivered end-to-end commerce consultancy, integration and optimisation since 2013 in increasingly tight alignment with Kin + Carta’s core technology, data, and experience services. This shared approach accelerates efficiency and speed to value for enterprise clients including Southwire and Royal Caribbean.
J Schwan, Kin + Carta CEO, said: “The acquisitions of Melon Group and Loop mark a significant move in our ambition to scale globally and accelerate our growth. Identifying, acquiring and integrating brilliant new businesses into Kin + Carta broadens our reach and creates opportunities to learn from experts in their craft. 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..”
Krum Hadzhigeorgiev, Melon CEO, 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. 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.”
Kin + Carta also recently announced the intellectual property acquisition of Octain, a responsible AI data platform. Octain provides advanced insight, predictions, and recommendations to clients governed by socially responsible AI principles.
Octain will integrate into Kin + Carta’s existing data and AI capabilities, which includes the December 2020 acquisition of Portland-based data science company Cascade Data Labs. Both purchases give Kin + Carta the ability to quickly and accurately predict supply chain shortages, detect fraud, measure customer retention, and accelerate data-driven decision making.
The raft of acquisitions follow the divestments of CRM specialist Edit, and research and insights agency Incite.
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