Endava plc (NYSE “DAVA”) and Bain & Company (“Bain”) announce today the launch of an integrated IT due diligence product. In order to provide a strong mix of skills and building on their collaboration on digital transformations, Endava and Bain have extended their partnership into the private equity (PE) space.
Over the past year, Endava and Bain have provided IT due diligence services to global private equity funds. Endava brings a deep skill set in IT, digital, and next-gen technologies, which is complimented by Bain’s strong commercial and operational due diligence know-how, part of what makes Bain a leading advisor to PE investors.
With this extended and flexible IT due diligence offering, Endava and Bain now offer due diligence services across the three core areas the market needs today: a solid IT and core technology assessment, a future-back assessment of digital readiness and a robust assessment of the value-creation plan through the tech enablers.
Leveraging technology as a catalyst for value creation has become key in PE deals. Achieving this goal requires addressing a set of fundamental challenges including the impact of technology disruptions on the business, the competitive advantage of proprietary IT and digital capabilities and the scalability of technological assets to support growth.
Endava and Bain’s integrated IT due diligence offering has grown into a defined product set which has been well received by clients who recognize the value of a combined team that can integrate the deep technology insights developed by Endava into the broader investment thesis of the commercial due diligence.
“Private equity funds can gain access to significant expertise through our partnership based on their needs and I am delighted to head this effort for Endava,” said Jourik Migom, Global Senior Vice President of Strategy Acceleration at Endava.
“This product allows us to respond in a unique way to a growing need from many private equity funds: a deeply integrated proposition, combining Bain’s core skillset in commercial due diligence with Endava’s deep technical expertise,” said Roberto Fiorello, Director at Bain & Company.
This partnership fits well with Endava’s recent acquisition of Intuitus Limited (“Intuitus”), headquartered in Edinburgh, Scotland. Intuitus is a leading independent provider of technology and digital due diligence, and other technology advisory services to private equity clients. Endava will leverage Intuitus’ due diligence expertise and experienced staff to support the new platform.
ABOUT ENDAVA PLC:
Endava is a leading next-generation technology services provider and helps accelerate disruption by delivering rapid evolution to enterprises. Using distributed enterprise agile at scale, Endava collaborates with its clients, seamlessly integrating with their teams, catalysing ideation and delivering robust solutions. Endava helps its clients become digital, experience-driven businesses by assisting them in their journey from idea generation to development and deployment of products, platforms and solutions. It services clients in the following industries: Payments and Financial Services, TMT, Consumer Products, Retail, Logistics and Healthcare.
Endava had 5,754 employees as of June 30, 2019 located in offices in North America and Western Europe and delivery centres in Romania, Moldova, Bulgaria, Serbia, North Macedonia, Argentina, Uruguay, Venezuela, and Colombia.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of the words “anticipate,” “expect,” “intend,” “leverage,” “opportunities,” or “will,” and other similar forward looking words or phrases and include, but are not limited to, the statements regarding the anticipated impact of the partnership with Bain and acquisition of Intuitus on our business. 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, the risks and uncertainties discussed in the “Risk Factors” section of Endava’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on September 25, 2019.