Endava plc (NYSE:DAVA) acquired Exozet Berlin GmbH from German Startups Group GmbH & Co. KGaA (XTRA:GSJ) and others on December 17, 2019. German Startups Group realizes roughly €10.8 million, respectively, after deduction of M&A commissions or €1.00 per share.

Endava plc (NYSE:DAVA) completed the acquisition of Exozet Berlin GmbH from German Startups Group GmbH & Co. KGaA (XTRA:GSJ) and others on December 17, 2019. German Startups Group GmbH & Co. KGaA sold its majority stake to Endava and will use sale proceeds for further share buybacks of its own shares, subject to approval of the supervisory board. Technology Holdings acted as the financial advisor to Exozet. Stephan Ulrich, Christopher Götz and Martin Gramsch of Simmons & Simmons acted as the legal advisor to Endava. Endava also acquired Intuitus on November 1, 2019, and total consideration paid for Intuitus and Exozet was £25.5 million.