Multinational IT consulting and software development firm Endava has acquired Melbourne-based consulting, design and engineering firm Lexicon Digital.
UK-headquartered Endava said the acquisition accelerates its growth plans within Australia, adding Lexicon’s 127 staff in offices across Melbourne and Sydney to bolster its existing presence. Endava launched in Australia in 2021.
Founded in 2016, Lexicon creates digital solutions and accelerate digital transformation programs for clients across enterprise systems and products. The company also has an office in Ho Chi Minh City, Vietnam, providing Endava with a nearshore delivery location in Vietnam, complementing Endava’s existing operations in Singapore and Malaysia.
“High on our criteria for a merger partner were a strong alignment on capability, strategy and culture. With Endava we have found that,” Lexicon founder and managing director Chris Carydias said.
Lexicon’s clients include ANZ Bank, Coles, Kmart, MYOB, Toyota, Lexus, youfoodz and shippit. It also has customers in the insurance and wealth management sectors, as well as the entertainment, retail, agribusiness and automotive industries.
In the year ending 30 June 2022, 94 percent of Lexicon’s revenue was from Australian clients and 6 percent from the USA, with close to 90 percent of revenue from large corporates.
Endava’s chief executive officer John Cotterell said, “We see Lexicon as a high-performing business providing high-quality services in an attractive market with good clients, bringing a strong talent base across delivery, support and leadership. We are excited about our cultural alignment and therefore what we can achieve together.”
Global clients of Endava include Santander, BBC, boohoo, Fortnum & Mason.
Recent Comments