Equiteq advises leading independent technology and digital due diligence advisory firm Intuitus on its sale to Endava PLC

November 2019

Equiteq, the leading M&A advisory firm for companies in the knowledge economy, is pleased to announce that it has advised Intuitus, an industry-renowned technology and digital due diligence and advisory provider headquartered in Edinburgh, Scotland, on its sale to Endava PLC (NYSE “DAVA”), a global agile transformation and technology services group.

Private Equity is a fast-growing area for Endava, and the inclusion of Intuitus is expected to enhance their capability and accelerate their penetration of this market segment. Technology is becoming ever more crucial to the investment thesis of Private Equity firms as they seek value transforming business change in their portfolio. They need to identify disruption opportunities and require external expertise to navigate rapidly changing technology opportunities.

Intuitus provides technology and digital insight that informs business-critical investment decisions and the achievement of business plans that maximise shareholder value at exit. The Intuitus business model combines extensive C-level technology expertise and transaction advisory capability with a deep understanding of the Private Equity sector. Intuitus will strengthen Endava’s existing IT due diligence advisory capability and positions it to serve its expanding Private Equity client base. Additionally, the depth and breadth of Endava’s digital product and software engineering capabilities will now be available to Intuitus’ client base.

Intuitus brings an impressive list of over 100 active clients, most of which are Private Equity firms such as Abry Partners, BC Partners, Carlyle, EQT, Inflexion and Triton, based in the UK and Continental Europe, as well as in the US and Middle East. “We are delighted to be joining Endava. Our due diligence expertise, combined with Endava’s technology know-how and international platform, will bring significant new growth opportunities for the combined team,” said Calum Stewart, CEO of Intuitus.

“The Private Equity space has always been an area of focus and strength for Endava, driven by the ability to drive increased equity value through digital transformation. Joining forces with Intuitus strengthens this position, bringing increased execution capability and a great portfolio of clients” said John Cotterell, Endava’s CEO.

Regarding Equiteq’s role in the transaction, Calum added: “We have been working with the Equiteq team for several years. Their contributions throughout the deal process, in particular in highlighting our commercial synergies with Endava and advising during the final stages of the transaction, were instrumental in the achievement of a highly successful outcome.”

Jerome Glynn-Smith, Director at Equiteq, commented: “We are delighted to have worked with the Intuitus team towards the next chapter of growth for the company. This transaction illustrates the significance and value of specialised, business-centric technology and digital advice as part of next generation technology services.”

 

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©Equiteq 2019

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