US-based consulting firm Concord said that it has acquired the services team of Bulgarian software developer HyperAspect, which will rebrand to form Concord Europe.
The acquisition will expand Concord’s artificial intelligence and machine learning capabilities to better serve its customers around the world, the company said in a statement on Wednesday.
“Our clients crave innovation, and gaining competitive advantage is more important than ever in an unpredictable business landscape,” Concord’s chief executive officer, Florin Ibrani, said.
Pavel Pavlov, HyperAspect’s CEO, will take on a leadership role with Concord Europe, HyperAspect said in a separate statement on Thursday.
“We believe this expansion provides us with the best of both worlds – the security of a U.S.-based enterprise with the freshness of a young company,” Pavlov said.
HyperAspect is 100% owned by private individual Pavlinka Pavlova, according to Registry Agency data.