MARKET MOVEMENT
Endava announced acquisition of DEK Corporation , DEK Technologies Sweden , DEK Vietnam Company
Endava announced the acquisition of DEK
Corporation , DEK Technologies Sweden and DEK Vietnam Company , a multinational
firm that develops software and hardware solutions across a range of applications , including embedded systems , real-time solutions , telecoms and data communications .
DEK was founded in 1999 , has 660 operational employees , and is headquartered in Melbourne , Australia with additional offices in Ho Chi Minh , Vietnam and Stockholm , Sweden . DEK ’ s expertise spans several industry sectors with the most prominent being telecommunications . One of its longstanding clients is one of the world ’ s largest networking and telecommunication equipment and services companies . Other clients include Australia ’ s largest telecoms company and a publicly listed artificial intelligence technology company .
“ DEK brings with it great talent , with particular expertise in the globally innovative domains of telecoms and embedded tech ,” said John Cotterell Endava ’ s CEO .
Drini Mulla , CEO and co-founder of DEK , commented “ Since our first contact with Endava , we have been impressed by their culture , quality and energy and we wanted to bring our businesses together .”
With this acquisition , Endava demonstrates its strategy of diversification through M & A activities , further enhancing its Australian operations . It has successfully completed a trifecta of acquisitions of Australian headquartered businesses within the last fiscal year alone . These include the
Left : John Cotterel and , right : Drini Mulla
acquisitions of Lexicon in October 2022 and Mudbath in May 2023 .
These acquisitions not only further increase Endava ’ s reach in the Asia Pacific region , improving its offering to clients , people and local communities alike and adding a strong telecommunications capability , but also grows its presence and customer base in Sweden .
Furthermore , Endava believes that DEK ’ s delivery capacities in Vietnam can be the foundation for one of Endava ’ s major delivery locations in the future as Endava continues to grow . Endava is reimagining the relationship between people and technology .
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iot squared acquires Saudi based Machinestalk to become local provider of IoT solutions
Othman Al Dahash stc Group , an engine of digital transformation in the MENA region , announces that iot squared , a joint venture between the Public Investment Fund and stc group , is completing a highly successful first year since its establishment with signing a binding agreement to acquire 100 % of Machinestalk , a pioneer provider of IoT solutions and applications in Saudi Arabia .
The acquisition will accelerate iot squared ’ s growth and solidify its position as the provider of IoT solutions in the region . iot squared delivers industry-IoT solutions , which provides real-time insights into Saudi Arabia .
The acquisition represents an important milestone in the collaboration between PIF and stc as this reflects the major investment strategy in the products and services in ICT industry , including investments in digital Clouds , Cybersecurity , Fintech and digital entertainment . These investments contribute to driving digital transformation and contribute to Saudi Arabia ’ s Vision 2023 in digitisation in the region .
Othman Al Dahash , CEO of iot squared , said : “ We are pleased to announce signing a binding agreement to acquire 100 % of Machinestalk , which steers to an exciting new chapter in our growth story .”
Machinestalk is one of the largest Saudi companies in the IoT domain , founded in 2015 as a subsidiary of NOMD Holding . It has actively contributed to the Saudi Arabia ’ s telematics domain over the past years , delivering diversified solutions focused on
Smart Mobility , with additional capabilities in Smart Buildings and Facilities , Smart Cities , and Industrial IoT .
The acquisition will augment iot squared ’ s capabilities across the IoT value chain . Machinestalk ’ s applications complement iot squared ’ s three key verticals : smart cities , Industry 4.0 , and smart mobility and logistics , through which the Company supports governments , enterprises , and SMEs across the MENA region to advance the adoption of smart solutions and IoT technologies , positioning stc Group and Saudi Arabia as a regional hub for IoT in MENA .
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