KKCG: KKCG Completes Acquisition of Avenga from Oaktree and Cornerstone

LUZERN, Switzerland, Feb. 28, 2024 (GLOBE NEWSWIRE) -- KKCG, a leading European investment and innovation group, announces the successful completion of its acquisition of Avenga, an end-to-end software engineering and consulting platform, previously owned by funds managed by Oaktree Capital Management, L.P. ("Oaktree") and funds managed by Cornerstone Investment Management, L.P. ("Cornerstone").Effective at the closing of the transaction, Avenga, a global technology platform headquartered in Germany, with 31 offices internationally, and nearly 4,000 professionals, has become a wholly owned subsidiary of KKCG.This acquisition marks a turning point in the strategic development of KKCG's technology pillar. Commenting on the completion, Michal Tománek, Investment Director at KKCG, said, "Avenga bolsters KKCG's presence internationally and seamlessly complements KKCG's custom software development company Qinshift, making KKCG Technologies one of Europe's largest digital transformation architects, catering to a diverse global client base."Ludovic Gaudé, Head of KKCG's software engineering activities and CEO of Qinshift, is leading the integration process, in collaboration with Yuriy Adamchuk, CEO of ...Full story available on Benzinga.com