21 December 2023

KKCG acquires software company Avenga

KKCG, Karel Komarek's Czech investment group, has made its largest technology acquisition to date, buying German end-to-end software engineering and consulting platform Avenga from investment funds Oaktree Capital Management and Cornerstone Investment Management.

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Headquartered in Germany and with 31 offices worldwide, Avenga specialises in next-generation technology solutions, employs more than 3,800 skilled professionals and had an EBITDA of approximately EUR 30 million last year. The acquisition will strengthen KKCG's presence in the European and North American markets, expand its capabilities in the healthcare and pharmaceutical sectors, and also aligns with KKCG's portfolio company Qinshift in the development of bespoke software for the telecommunications, banking, financial services and automotive industries.

KKCG, an investment and innovation group spanning the lottery and gaming, energy, technology and real estate sectors, overseen by entrepreneur Karel Komarek, operates in 36 countries, employs more than 10,000 people and manages assets in excess of €8 billion. Its companies include lottery firm Allwyn, MND Group, Aricoma Group, Qinshift and KKCG Real Estate Group.

Our M&A Transaction Services department provided KKCG Technology with transaction advisory and due diligence services for this acquisition.