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KKCG, a leading European investment and innovation group, today announces its agreement to acquire Avenga, an end-to-end software engineering and consulting platform from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and funds managed by Cornerstone Investment Management, L.P. (“Cornerstone”). This investment is a key step in the strategic development of KKCG’s technology pillar.

Headquartered in Germany, and with offices in 31 locations, Avenga transforms its clients’ operations with next-gen technology solutions to position them at the forefront of the digital era. The company is focused on digital transformation and custom software development and employs over 3,800 highly skilled professionals with a significant global delivery footprint. The acquisition of Avenga marks an important milestone in KKCG’s growth story.

Avenga enables KKCG to strengthen its presence in target markets in Europe and North America, contributing strong capabilities especially in healthcare & pharma, while complementing the strong footprint of KKCG’s portfolio company Qinshift in custom software development for telecoms, banking and financial services, and the automotive industry. By combining Qinshift’s custom software development platform and workforce with Avenga’s resources, KKCG will create one of Europe’s leading digital transformation architects, with nearly 7,000 professionals, uniquely positioned to service a large international client base.

Clients can anticipate an expanded range of innovative solutions and a more comprehensive suite of services, tailored to meet their specific needs across diverse industries. Both companies also share a culture ingrained in buy-and-build platforms, cultivating an environment of growth, integrations, and the pursuit of further acquisitions.

Michal Tománek, Investment Director at KKCG, said: “Today marks a significant stride in our journey to grow KKCG’s IT pillar into a global tech and consultancy platform. The acquisition of Avenga as a highly complementary asset to our existing Qinshift portfolio company will enable us to effectively double our presence in the custom software development space, while tapping into deep pools of IT talent in Poland, Ukraine, and Argentina. This, coupled with enhancing our expertise in critical sectors such as healthcare & pharma, significantly expands our capabilities to better serve more clients around the world.”

Yuriy Adamchuk, CEO of Avenga, said: “Joining forces with KKCG, a leading European investment and innovation group, marks a new chapter in Avenga’s journey. This strategic acquisition not only validates our strong track record but also opens exciting opportunities for collaboration, allowing us to further innovate and expand our next-gen technology solutions in key sectors. We are enthusiastic about the potential of this partnership and the collective strengths we bring to the global tech and consultancy landscape.”

About KKCG

KKCG is an investment and innovation group with expertise in lotteries and gaming, energy, technology, and real estate. Founded by entrepreneur, investor, and philanthropist Karel Komárek, KKCG employs over 10,000 people in 36 countries across its portfolio companies, with more than €8 billion in assets under management. Its businesses include, amongst others, ARICOMA GROUP Holding a.s., comprehensive IT services provider and custom software development across Europe and the US; Allwyn, a multi-national lottery operator with leading market positions in Austria, Czech Republic, Greece, Cyprus, Italy, the United Kingdom and the United States (Illinois); MND Group, an international producer and supplier of traditional and renewable energy, active in drilling and exploration, energy storage, retail, and trading; and KKCG Real Estate which creates internationally recognized, award-winning architecture in the residential, commercial, and industrial sectors with a focus on innovative and sustainable development. With operations on several continents, KKCG businesses draw on capital, networks, and insights from across the group to enable profitable, sustainable growth for the long term. KKCG is committed to supporting the communities where it operates, contributing to the societies it works within.

About Avenga

Avenga is a global engineering and consulting platform with deep industry knowledge, especially in pharma, insurance and finance, and advanced manufacturing. The company’s IT specialists operate from 31 offices worldwide and support global corporations and complex organizations in their digital transformation with projects along the entire digital value chain – from digital strategy to the implementation of software, user experience, and IT solutions. Avenga’s many world-renowned clients include organizations like ABB, Allianz, GSK, Santander, and Volvo.

Source: KKCG, 15 December 2023

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