Endava (NYSE “DAVA”) announced today the acquisition of Lexicon Digital Pty Ltd and Lexicon Consolidated Holdings Pty Ltd, headquartered in Melbourne, Australia (“Lexicon”).
Lexicon is an Australian-based technology consulting, design and engineering firm who partners with clients to build new digital solutions or accelerate digital transformation programs across enterprise systems, products and IoT using an agile delivery methodology.
Lexicon’s clients include Australia’s market leaders in the insurance and wealth management sectors and an array of companies in other sectors, including entertainment, retail, agribusiness and automotive. In the year ending 30 June 2022, 94% of Lexicon’s revenue was from Australian clients and 6% from the USA, with close to 90% of revenue from large corporates.
Lexicon has 127 billable staff in Australia (with offices in Melbourne and Sydney) and Vietnam (Ho Chi Minh).
The acquisition of Lexicon enhances Endava’s existing presence in Australia and provides a strong foundation for accelerated in-market growth. In addition, Lexicon provides Endava with a nearshore delivery location in Vietnam which complements our existing operations in Singapore and Malaysia.
John Cotterell, Endava’s CEO, commented “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.”
Chris Carydias, Founder and Managing Director of Lexicon, said “High on our criteria for a merger partner were a strong alignment on capability, strategy and culture. With Endava we have found that. We are very excited about the opportunities ahead for our people and our clients.”
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