Tuesday 05 November 2019

Endava acquires Scottish nous

LogoLondon-based “nearshore” IT services company Endava has purchased Edinburgh-HQ'd private equity advisory and IT services specialist Intuitus Limited. The move marks a return to the acquisition trail for the company following a twenty two month pause since the Velocity Partners buy (see here) at the beginning of 2018. Terms of the deal were not disclosed.

Intuitus, which employs around 25 personnel, is a leading independent provider of technology and digital due diligence, and other technology advisory services to the PE sector. The firm brings with it over 100 active clients including Abry Partners, BC Partners, Carlyle, EQT, Inflexion and Triton, based in the UK and Continental Europe, as well as in the US and Middle East.

The purchase will both strengthen Endava’s position in the lucrative PE niche and further enhance the company’s capabilities in Financial Services vertical which accounts for c. 50% of its global revenues (see here). The Intuitus buy would appear to be a smart, albeit small play for Endava, which has consistently demonstrated a deftness of touch regarding the integration of its acquisitions.

We will provide a more detailed update on Endava’s performance and prospects in couple of weeks’ time following the publication of its Q120 results on the 19th November.

Posted by: Duncan Aitchison

Tags: acquisition   systemsintegration   privateequity   digital  

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