Goldenhill International M&A Advisors today announced that it acted as M&A advisor to Endava, a global technology company with a growing footprint in North America and Western Europe, in its acquisition of Velocity Partners, an innovative software development company with a strong presence in Latin America.
The resulting organisation will have over 4,600 people, and the additional six agile software development centres across Argentina, Uruguay, Venezuela, and Colombia will complement Endava’s existing delivery capability from centres across Romania, Moldova, Bulgaria, Serbia, Macedonia, and Colombia.
This acquisition will enable Endava, which provides agile, digital, and automation solutions to some of the world’s leading finance, insurance, telecommunications, media, technology, and retail companies, to further expand its footprint in North America and offer the world-class nearshore delivery model which has fuelled its success over the years. The company has a strong business performance with revenues up 38% year on year, supported by a mix of solid organic growth and acquisition-led international expansion.
Commenting on the contribution of Goldenhill to the successful acquisition process, John Cotterell, Endava’s CEO said:
“We were pleased to work closely with Goldenhill during this process. Their ability to identify, approach and assist us to qualify suitable acquisition targets who were based in Latin America and serving customers in North America has been valuable to us as we moved through and successfully completed this process with Velocity Partners. Goldenhill has demonstrated commitment and flexibility in working with us and we look forward to continuing our working relationship with them.”