Exadel Boosts European Presence with Anthill IT Acquisition
Deal News | Jul 10, 2025 | CEE Legal Matters
Exadel, a software consulting and development company, has acquired the IT business of Anthill, a Bulgarian end-to-end software solutions center. This acquisition is set to make Bulgaria Exadel's second-largest delivery hub in Europe, enhancing the company's specialized engineering capabilities while supporting its AI-first strategy. Exadel's global delivery network currently encompasses 30 delivery centers across 17 countries. The legal advisory was provided by Schoenherr and Tzvetkova, Tzvetkov & Dobreva, highlighting a strong collaboration between the teams at these law firms.
Sectors
- Software and IT Services
- Legal Services
Geography
- Bulgaria – Anthill is based in Bulgaria, and the country's IT industry is significant in the context of this acquisition.
- Europe – Exadel is expanding its European delivery capabilities, making Bulgaria its second-largest hub in the continent.
Industry
- Software and IT Services – Both Exadel and Anthill operate in the software development and IT services industry, with Exadel focusing on AI strategies.
- Legal Services – Schoenherr and Tzvetkova, Tzvetkov & Dobreva provided legal advisory services for the acquisition.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Exadel | Bidding Company | Company | Exadel is a software consulting and development company. |
| Anthill | Target company | Company | Anthill is a Bulgarian end-to-end software solutions center. |
| Schoenherr | Legal Advisor | Company | Schoenherr provided legal advisory services to Exadel for the acquisition. |
| Tzvetkova, Tzvetkov & Dobreva | Legal Advisor | Company | Tzvetkova, Tzvetkov & Dobreva collaborated with Schoenherr as legal advisors. |