Endava Expands Presence In Asia Pacific Via DEK Acquisition - What's On The Cards

Endava Plc DAVA announced the acquisition of DEK Corporation Pty Ltd, DEK Technologies Sweden AB, and DEK Vietnam Company Ltd, (collectively, "DEK"), a multinational firm that develops software and hardware solutions across various applications. Deal terms not disclosed.

DEK currently employs 660 people. It is based in Melbourne, Australia, with satellite offices in Ho Chi Minh, Vietnam, and Stockholm, Sweden.

Endava displays its diversification strategy with this acquisition, significantly strengthening its Australian operations. Endava believes that DEK's delivery capabilities in Vietnam can serve as the foundation for one of Endava's major delivery locations in the future.

As of March 31, 2023, Endava had cash and equivalents of £199.2 million.

Also Read: Digital Transformation Services Demand: Endava's Outlook Amid Ongoing US Banking Crisis

"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," commented John Cotterell, Endava's CEO.

Price Action: DAVA shares traded higher by 1.31% at $46.25 on the last check Friday.