Endava strengthens presence in SEE with Comtrade Digital Services acquisition

Endava strengthens presence in SEE with Comtrade Digital Services acquisition
By bne IntelliNews August 18, 2020

Technology services provider Endava announced the acquisition of the Comtrade Digital Services business (CDS), a former division of Comtrade Group BV that provides strategic software engineering services and solutions, on August 17. 

The acquisition of Dublin-based CDS, with delivery centres throughout the Adriatic, reinforces Endava’s presence in Southeast Europe, Endava’s press release said. The company has around 460 technical staff and delivery centres in Bosnia & Herzegovina, Serbia and Slovenia. 

Endava CEO John Cotterell sad CDS’ engineering skills, approach to digital transformation and innovative culture are “well aligned with Endava’s. Together we will have a market leading presence in the Adriatic region,” he added. 

“CDS’s client base strengthens Endava’s industry verticals in payments and financial services, TMT and subsectors within “Other”, including travel, logistics, energy, government and healthcare. EU clients accounted for approximately 85% of CDS’s revenue for the calendar year 2019, with the remainder coming from non-EU Europe and the US. The transaction is expected to be earnings enhancing in year one,” the press release said. 

CDS helps companies across industries such as energy, fintech, financial services, government, healthcare, logistics and travel to innovate faster and reinvent their business models digitally.

Its clients include Aer Lingus, Addiko Bank, Raiffeissen, Paysafe Group and the Financial Administration of the Slovenian government.