Endava to acquire GalaxE Group for $405M

Endava has entered into a definitive agreement to acquire 100% ownership of GalaxE Group, a global IT and business solutions provider headquartered in New Jersey. Founded by Tim Bryan over 30 years ago, GalaxE has been singularly focused on driving digital transformation. When completed, the transaction will add approximately 1,650 employees. Total consideration for the acquisition is up to $405M, primarily in cash with some stock, of which $30M is conditional upon future performance of the GalaxE business. The transaction is expected to close in early April 2024 subject to the completion of customary closing conditions and approvals, including the expiration of the required waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976.