Endava Acquires Financial Services Firm Levvel For Undisclosed Sum

Software development company Endava PLC (NYSE: DAVA) acquired technology strategy, consulting, and engineering firm Levvel LLC.
The financial terms of the transaction were not disclosed.
Levvel’s strong focus in the Payments and Financial Services, Logistics/Mobility and TMT segments, and combining forces will fast-track Endava’s U.S. expansion while consolidating its client exposure in the core market sectors.
Endava held cash and cash equivalents of £84.2 million as of Dec. 31, 2020.
Price action: DAVA shares are trading higher by 0.79% at $85.35 on the last check Thursday.