AVentures Capital acted as a sell-side advisor to Daxx shareholders during the sale of Daxx to Grid Dynamics

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AVentures Capital served as sell side advisers in the acquisition of Daxx Web Industries B.V. (“Daxx”) by Grid Dynamics Inc. (NASDAQ: GDYN).

AVentures Capital team, including Yevgen Sysoyev and Yuliya Sychikova, in collaboration with Jochem Theunissen have served as sell side advisers in the acquisition of Daxx Web Industries B.V. (“Daxx”), a leading IT service company with over 450 employees, delivery across Ukraine and sales office in Amsterdam, by Grid Dynamics Inc. (NASDAQ: GDYN), a leader in driving enterprise-level digital transformation services for Fortune 1000 corporations with offices in the US, and Central and Eastern Europe.

“AVentures sees a lot of high-quality IT service companies in CEE and Daxx is definitely one of them. The CEE IT services market has a unique combination of highly scalable delivery, diversity of engineering talent, and profound technology expertise backed by a long engineering legacy. A deal between Daxx and Grid Dynamics during Covid-19 times is a testament to the resilience, agility, and high potential of the CEE market,” says Yevgen Sysoyev, Managing Partner at AVentures Capital.

Daxx co-founder Bart Kuijper, commented on the transaction: “We are excited about Daxx joining Grid Dynamics, a milestone which presents enormous opportunities for the whole Daxx team. We are grateful to AVentures, our sell-side advisor. Not only they introduced us to Grid Dynamics, their team tirelessly assisted us throughout the sales process.”

Founded in 1999, Daxx has become a leading IT service company with delivery from the Netherlands and four cities in Ukraine: Kyiv, Kharkiv, Dnipro, and Lviv. In the past few years, the company rapidly grew to over 450 employees. Currently, Daxx creates and supports teams of IT professionals tailored to clients located in the US, Netherlands, and other countries across the globe.

To see the Grid Dynamics official press release, please see: https://bwnews.pr/3pnpOq0

AVentures Capital is an investment firm, which combines a fund and M&A advisory boutique for IT companies in CEE. AVentures banking arm continues to serve its clients with professional, client-tailored investment banking services that include M&A strategy development, sell-side, and buy-side advisory.

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YULIYA SYCHIKOVA
AVentures Capital
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