June 4 (SeeNews) - UK-based technology company Endava said on Tuesday it is selling its fintech centre in Bucharest, Endava Technology, to payment processing company Worldpay.
Worldpay, which has an option to purchase Endava Technology requested, and Endava agreed to allow, an early exercise of the option, which was not exercisable until September 2019, Endava said in a press release without disclosing the price of the transaction.
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Endava Technology's 138 current employees work exclusively for Worldpay, the company said.
The transaction is expected to close during the first quarter of Endava’s 2020 fiscal year ending September 30, 2019, subject to Romanian regulatory approval. Upon closing, the employees of the fintech centre will become employees of Worldpay.
Endava opened the centre in collaboration with Worldpay in August 2017.
Endava also announced that a team of 32 highly experienced cloud software implementation specialists based in Romania joined Endava on June 1, bringing with them a profitable revenue stream. The new hires were made due to the growing demand for cloud-based CRM expertise as a facilitator for digital transformation, including requirements of many of Endava’s clients.
Endava curently hires 2,300 in Romania - in Bucharest, Cluj-Napoca, Iasi, Pitesti and Targu Mures.