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April 2021

The M&A Watch – Eastern Europe – March 2021 Coverage


M&A WATCH: EASTERN EUROPE – March 2021 COVERAGE

Our monthly M&A Watch spotlights deals in the Information Technology industry throughout Eastern Europe.

This month, we highlight 6 deals across Eastern Europe, which is the same as the number of deals completed in January. Notably, March transactions involved a number of active strategic and private equity names – Endava, Wipro, TPG Capital, and Sun Capital Partners. The global interest in Eastern European IT Services companies demonstrates a continued trend from prior months in 2021, and we continue to expect buyers and investors will be intrigued by companies in the region given the high concentration of IT/software talent, timezone advantage, and agile delivery methods.

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IT Services Notable M&A Transactions

Komix acquired by Aricoma Group. Komix was founded in 1992 and since its inception has been offering software services to clients in the public and private spheres. It is primarily a solution for eGovernment and eHealth, where it helps the Czech state administration to accelerate development, so that these solutions are user-friendly for citizens. #CzechRepublic #ITservices #eHealth #eGovernment

Endava acquired Croatian digital agency Five that provides services in the domain of product strategy, design, and growth marketing. This acquisition is expected to improve Endava’s position in the area of digital products, especially with Five’s high-end services and growth optimization. #Endava #Croatia #digitalmarketing

Wipro has signed an agreement to acquire Capco. Privately-held firm Capco, which employs about 5,000 consultants and had raised about $80 million from investors 20 years ago, is acknowledged for its deep domain and consulting expertise, and risk and regulatory offerings. Capco has offices in Slovakia and Poland. #Wipro #consulting #digital

ec4u and BULPROS have entered a merger agreement, joining forces to deliver next generation digital cloud experience to enterprises. The combined platform has more than 1,400 employees across 25 offices in 11 countries and is backed by the pan-European private equity firm Silverfleet Capital, which has invested in a majority stake in the merged company. #Salesforce #Microsoft #SAP #Oracle #IBM #Cisco #Snowflake #Bulgaria #Romania

Sun Capital Partners acquired Exadel, a founder-owned software development leader focused on digital transformation. Founded in 1998 and headquartered in Walnut Creek, California, Exadel builds enterprise-wide platforms with a focus on accelerating digital transformation for blue chip customers around the world. With more than 20 locations and delivery centers across the U.S. and Eastern Europe. #SunCapitalPartners #Croatia #DigitalTransformation #Belarus #Russia #Lithuania #Poland

Application Software M&A

TPG Capital LP increased its investment stake in software developer Sauce Labs. San Francisco-based Sauce Labs offers cloud-based testing for mobile and web applications. The investment from TPG comes as Sauce Labs continues to move aggressively to expand its platform capabilities to serve more users and use cases throughout the DevOps toolchain. #Poland #Cloud #Microsoft #Software

For more information

Please contact Kristina Sergueeva at kristina@7mileadvisors.com or +1 (704) 899-5149.

As a Director with more than 10 years of investment banking experience, Kristina leads 7 Mile’s coverage of Emerging Markets, particularly within the Eastern European ecosystem. She specializes in helping technology-enabled and professional services companies with sell-side, buy-side, and capital raise transactions.

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