19 November 2018
Da Vinci Capital Invests in Global Technology Consultancy DataArt
Yahoo! Finance writes that Da Vinci Capital acquired a substantial, non-controlling interest in DataArt.
"Da Vinci Capital, a leading emerging markets private equity firm... has invested in DataArt, a leading global technology consultancy that designs and develops unique software solutions, to support the company's growth momentum in key industries.
DataArt's 2017 revenues exceeded $124 million, which the company expects will grow annually by more than 20 percent.
DataArt's strong revenue growth is key to our interest in the company," said Da Vinci Capital Managing Partner Dennis Fulling. "DataArt focuses on providing high-quality engineering services for complex software projects. Da Vinci Capital is excited to partner with DataArt, and we seek to replicate the success of our prior investment in Epam Systems, which completed an IPO on the NYSE in 2012." Fulling continued, "Our exhaustive due diligence process revealed that DataArt has an exceptionally strong reputation among its clients, partners and industry peers for quality, integrity and performance, which was pivotal in Da Vinci Capital's decision to invest."