16 June 2015
Endava and PSTech announce strategic merger and intention to grow the software development centre in Belgrade
The merger will further strengthen Endava’s delivery capability in the Adriatic region along with giving clients even greater access to world class IT talent, and providing great career opportunities for IT professionals on the local market where it aims to become the top IT employer.
The combined businesses will have over 2,250 staff and will follow a proven and successful delivery model of blending engineering excellence from Central and Eastern Europe with industry expertise across domains including Banking, Payments, Insurance, Retail, Telco and Media.
PSTech and Endava are joining forces to increase growth opportunities for both organisations. Endava had an increase in revenue of 50% in the financial year 2013- 2014 and a similar headcount growth in its delivery centres in Central and Eastern Europe. Endava is among the most active IT employers in the region having delivery centres in the main IT hubs: Bucharest, Cluj, Iasi, Chisinau and Skopje. In Romania, Endava has been recognised two years in a row as top IT employer, due to significant investment in the professional development of its staff and a culture of learning and sharing. Endava’s growth is focused on continuing to expand its existing locations and on expanding into new locations to meet client demand. In 2014 Endava opened an office in Frankfurt following a merger with an IT and business consultancy group based in Germany, and increased presence in the US by establishing a new sales office in Atlanta. Last year, Endava has also opened a new delivery centre in Skopje, Macedonia, aiming to strengthen capability to support global clients from Central and Eastern Europe.
The teams in Belgrade will significantly enhance Endava’s presence in Central and Eastern Europe. With an IT community of over 50,000 professionals and more than 3,500 IT graduates per year, Serbia is a strong IT hub which is recognised for engineering talent, excellent English skills, very good connections to European capitals and GMT+1 time zone that makes it a particularly good fit for the delivery of IT projects for clients in the Nordic countries. Through long term partnerships with clients such as Cisco Systems, Sony Mobile, Adobe Systems and Plantronics, PSTech has established over the years a world class delivery model into Silicon Valley, a particularly attractive market to Endava.
Branka Radovanović, CEO PSTech said “We are excited to join an international organisation with very similar values and culture that has a proven business model and capability to grow rapidly. We are looking to offer our people more opportunities through exposure to an international environment and close interactions with colleagues in other locations, access to challenging projects in new domains for clients in new geographies, such as the UK or Germany, while at the same time benefiting from a more systematic approach to personal growth. We see our team in Belgrade growing in the next few years by focusing on career development and excellent working conditions.”
John Cotterell, CEO Endava, commented “This merger is a strategic move to strengthen our presence in the Adriatic region, continuing the investment we started with our recently opened office in Macedonia. Belgrade will become a very important delivery centre for us. We expect to grow here just as fast as in the other centres, with an aim to become the employer of choice in the region, as in other Endava locations in Central and Eastern Europe. We believe that together we will be able to grow the additional clients resulting from this merger into large accounts and also win new business by leveraging the Belgrade teams’ great experience in working with top technology companies and US West coast clients.”
Endava is a leading European IT services organisation with over 1,900 full time employees. Headquartered in London, Endava has offices in the UK, USA, Germany, Romania, Macedonia and Moldova and reported revenues of £64 m/ / €88 m for the financial year 2013 -2014.
Supporting the full software lifecycle, Endava covers application development and management, testing, digital media, infrastructure management and cloud services.
Industry-focused verticals are led by professionals who speak the customers’ language, designing services for clients, complemented by world class delivery. Endava’s solutions transform systems, platforms and processes for the world’s leading brands in Capital Markets, Banking, Payments, Insurance, Media, Retail and Telecommunications.
PSTech is one of the leading companies in software development in Serbia with over 330 employees. Headquartered in Belgrade, Serbia, the company had a steady growth year on year through long term partnerships with its clients, including some of the worlds leading technology companies based in Silicon Valley.
PSTech specialises in providing software development services to technology companies with a strong focus on communication and collaboration technology domains.
The company has developed a successful delivery model by providing continous innovation, very high and predictable quality and unprecedented level of corporate and personal responsibility.