The ICAREX Group

Software talent.A new direction.

From specialists in client teams to bespoke AI projects. A transformation connecting people, economic sustainability and new opportunities.

Explore the story
Software engineer working on site with a client.
People. Expertise. Projects.
70%

Signed purchase option

The agreement. Then the work.

We signed an option to acquire 70% of XEEL LAB. We then began a hands-on transformation to strengthen the business.

Costs, people, offering and business development.

The value was there.It needed room to grow.

XEEL LAB began as a software development company. Its model centres on time-and-materials services: professionals working alongside teams at large companies, with fees based on the time dedicated to projects.

When we started working together, the business was navigating a challenging period. Its established model needed to evolve on several fronts: financial sustainability, people development, its value proposition and new client acquisition.

Four areas.One transformation.

We worked with XEEL LAB to connect what the business could do, what the market needed and the economic value to build.

Give the value of peoplea sound financial foundation.

Existing rates left limited room to reflect the value of the work and invest in skills development.

We introduced more structured cost control and reviewed pricing in light of financial sustainability and the capabilities on offer. We connected the work on the numbers to people development, building a stronger value proposition.

What changes

A stronger basis for deciding which activities to support and how to price their value.

Bring AI intodevelopers’ daily work.

The team needed to understand the available tools and translate emerging trends into practical capabilities.

We guided people in discovering and using AI tools, with a particular focus on coding and agentic AI. We paired training with project work, turning familiarity with tools into practical experience.

What changes

A better-equipped team, able to tackle new projects and apply what it had learned to established activities.

Explore SI Adoption

From available resourcesto problems worth solving.

Reaching new opportunities required a recognisable offering beyond the traditional model of assigning professionals.

We worked on a value proposition built around AI and business needs. Alongside time-and-materials services, XEEL LAB developed a new stream of AI projects: a way to open new commercial conversations and build more distinctive skills.

What changes

A new revenue stream complements the established business, giving clients more reasons to choose XEEL LAB.

Explore the projects

Show the expertise.Open new conversations.

The new offering needed a system to make it visible and turn interest into opportunities.

We brought our expertise-led marketing approach to XEEL LAB. Workshops, brochures and content on AI trends made the new proposition tangible: first help businesses understand what to do and why, then work with them on a valuable project.

What changes

A more structured way to build visibility, generate leads and bring the new offering to market.

New projects.Lasting capabilities.

AI projects serve two purposes: they open a new revenue stream and help the team build skills it can also apply to time-and-materials projects.

Time & Materials

Within teams.

Software specialists alongside clients, with skills that grow through hands-on work.

AI projects

Within solutions.

A new revenue stream and a place to apply coding, AI tools and agentic capabilities.

  1. AI projects

    The team tackles new problems using more advanced tools and approaches.

  2. Hands-on experience

    People consolidate technical capabilities through practical project work.

  3. More value in T&M

    New capabilities strengthen the contribution to client projects and the commercial proposition.

The value of people becomes a basis for supporting more appropriate rates, alongside cost control and the positioning of the offering.

More value in the work.A stronger market presence.

The transformation changed how the team works, what the company offers and how it engages with the market.

An AI-empowered team

New tools and capabilities applied to software development and AI projects.

Two business streams

Time-and-materials work continues, complemented by new revenue from AI projects.

A more distinctive proposition

Expertise made visible through content and workshops, opening new commercial conversations.

Greater financial clarity

Costs, margins and the value of capabilities become reference points for pricing decisions.

The next transformation.In your business.

Expertise to develop, a product to evolve or a business to transform? We can put this experience to work with you.

Let’s discuss your businessExplore M&A & Transformation

The next chapter could be yours.

Seeking continuity, a growth partner or a turnaround? Tell us about your business.

Or email us directlyinfo@icarex.ai

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We look forward to hearing what you have in mind.