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.
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
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services & Technology industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
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