Endava Continues Asia Pacific Expansion, Announcing the Acquisition of DEK
09 6월 2023 - 7:32PM
Business Wire
(NYSE “DAVA”) – Endava, a pure play next-gen technology company,
announced today the acquisition of DEK Corporation Pty Ltd, DEK
Technologies Sweden AB and DEK Vietnam Company Ltd (collectively,
“DEK”), a multinational firm that develops cutting-edge
software and hardware solutions across a range of applications,
including embedded systems, real-time solutions, telecoms and data
communications.
DEK was founded in 1999, has 660 operational employees, and is
headquartered in Melbourne, Australia with additional offices in Ho
Chi Minh, Vietnam and Stockholm, Sweden. DEK’s expertise spans
several industry sectors with the most prominent being
telecommunications. One of its longstanding clients is one of the
world’s largest networking and telecommunication equipment and
services companies. Other clients include Australia’s largest
telecoms company and a publicly listed artificial intelligence
technology company.
With this acquisition, Endava demonstrates its strategy of
diversification through M&A activities, further enhancing its
Australian operations. It has successfully completed a trifecta of
acquisitions of Australian headquartered businesses within the last
fiscal year alone. These include the acquisitions of Lexicon in
October 2022 and Mudbath in May 2023.
These acquisitions not only further increase Endava’s reach in
the Asia Pacific region, improving its offering to clients, people
and local communities alike and adding a strong telecommunications
capability, but also grows its presence and customer base in
Sweden.
Furthermore, Endava believes that DEK’s delivery capacities in
Vietnam can be the foundation for one of Endava’s major delivery
locations in the future as Endava continues to grow.
“DEK brings with it great talent, with particular expertise in
the globally innovative domains of telecoms and embedded tech.
We’re excited by the opportunity to cross sell our capabilities to
each other’s clients. We look forward to forging strong
relationships with the new customers this merger is bringing to the
Endava family,” said John Cotterell Endava’s CEO.
Drini Mulla, CEO and co-founder of DEK, commented “Since our
first contact with Endava, we have been impressed by their culture,
quality and energy and we wanted to bring our businesses together.
We are delighted to do so now. This is a positive move, as we now
gain access to a broader array of skillsets, not to mention our
people and businesses with the now accelerated growth
potential.”
John Cotterell, Endava’s CEO continues, “The dynamic edge DEK
brings with its global domain expertise in Vietnam and Sweden is
particularly interesting given the growth of our strategic offering
across Asia Pacific and the Nordics. It’s a very exciting time for
Endava.”
ABOUT ENDAVA:
Endava is reimagining the relationship between people and
technology. By leveraging next-generation technologies, our agile,
multi-disciplinary teams provide a combination of product &
technology strategies, intelligent experiences, and world class
engineering to help clients become digital, experience-driven
businesses by assisting them in their journey from idea generation
to development and deployment of products, platforms and solutions.
Endava collaborates with its clients, seamlessly integrating with
their teams, catalysing ideation and delivering robust
solutions.
Endava services clients in Payments and Financial Services, TMT,
Consumer Products, Retail, Mobility and Healthcare. As of March 31,
2023, 11,742, Endavans served clients from locations in
Asia-Pacific, Middle East, North America and Western Europe and
delivery locations in Argentina, Bosnia & Herzegovina,
Bulgaria, Colombia, Croatia, Malaysia, Mexico, Moldova, North
Macedonia, Poland, Romania, Serbia, Slovenia, Uruguay and Vietnam.
https://www.endava.com/
Forward-Looking Statements This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may be identified by the use of terms and phrases such
as “believe,” “expect,” "outlook," “may,” “will,” and other similar
terms and phrases. Such forward-looking statements include, but are
not limited to, the statements regarding Endava’s and DEK’s
expectations with respect to the benefits of the merger; and
Endava’s expectations with respect to the market opportunities in
Australia and its ability to further enhance its market presence in
Asia Pacific and the Nordics. Forward-looking statements involve
known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially from the results
anticipated by these forward-looking statements, including, but not
limited to: Endava’s ability to successfully integrate DEK’s
business and personnel and to realize the benefits of the merger;
Endava’s ability to manage its rapid growth or achieve anticipated
growth; Endava’s ability to retain existing clients and attract new
clients, including its ability to increase revenue from existing
clients and diversify its revenue concentration; Endava’s ability
to attract and retain highly-skilled IT professionals at
cost-effective rates; Endava’s ability to maintain favorable
pricing and utilization rates; the effects of increased competition
as well as innovations by new and existing competitors in its
market; Endava’s ability to adapt to technological change and
innovate solutions for its clients; Endava’s ability to effectively
manage its international operations, including Endava's exposure to
foreign currency exchange rate fluctuations; Endava’s future
financial performance, including trends in revenue, cost of sales,
gross profit, selling, general and administrative expenses, finance
income and expense and taxes; impact of general economic conditions
on Endava’s business, results of operations and financial
condition, including increased inflation; and other risks and
uncertainties discussed in the “Risk Factors” section of Endava’s
Annual Report filed with the SEC on October 31, 2022. In addition,
the forward-looking statements included in this press release
represent Endava’s views and expectations as of the date hereof and
are based on information currently available to Endava. Endava
anticipates that subsequent events and developments may cause its
views to change. Endava specifically disclaims any obligation to
update the forward-looking statements in this press release except
as required by law. These forward-looking statements should not be
relied upon as representing Endava’s views as of any date
subsequent to the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20230531005629/en/
INVESTOR CONTACT: Endava plc Laurence Madsen, Investor Relations
Manager Investors@endava.com
Endava (NYSE:DAVA)
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