Endava, a New York Stock Exchange-listed technology services provider, has acquired Dublin-based software engineering services company Comtrade Digital Services in a deal worth €60m.
The acquisition of Comtrade Digital Services, which moved its headquarters to Ireland in 2018 and was part of Serbian-headquartered Comtrade Solutions Group, was announced by UK-founded Endava last week.
During peak business, Comtrade can employ up to 200 people in Ireland.
Comtrade has had an Irish presence since 2001. It has worked with several Irish companies, including Ryanair and Aer Lingus.
Endava acquired the business by purchasing all of the issued share capital of its companies in Slovenia and Serbia, which own all the Comtrade assets. The move by Endava will allow it to reinforce its business in south-eastern Europe.
Speaking with the The Sunday Independent, Ian Cassidy, Endava's financial services sector director, said Comtrade had strengths in areas where it wants to grow, particularly in travel and mobility. He said he expects the acquisition to enhance the business here, while Dejan Cusic, a director of Comtrade in Ireland, said the move would strengthen the company's Irish roots.