IT company with 2,500 employees in Romania floats on NYSE

British IT services provider Endava’s shares started trading on the New York Stock Exchange (NYSE) on Friday, July 27, after the company successfully closed a USD 127 million initial public offering (IPO). The transaction valued the company at some USD 220 million, Wall-street.ro reported. Endava has some 4,700 employees in nearshore delivery centers located in Eastern Europe and Latin America. Over 2,500 of its employees work at the company’s six centers in Romania, located in Cluj-Napoca, Iasi, Bucuresti, Pitesti, Targu Mures and Timisoara. The company’s recorded revenues of USD 224 million and a net profit of USD 23,6 million in the fiscal year ended on June 30, 2017. Software provider opens new office in Eastern Romania (Photo: Endava) editor@romania-insider.com