In 2017, Oaktree Capital Management and Cornerstone Partners acquired a Polish IT outsourcing provider IT Kontrakt and set out to build larger IT services platform through acquisitions. IT Kontrakt and acquired companies later formed a company now operating as Avenga.
Sevenval, a front-end development software house from Cologne, was the third acquisition of the platform. The company focused on advanced digital transformation and implementation projects for clients across pharma & life sciences, financial services, automotive, media and real estate verticals.
In June 2019, IT Kontrakt acquired Sevenval, getting access to its own delivery and sales capabilities in the DACH region.
Aventis Advisors, together with Carlsquare, served as buy-side financial advisors to Avenga.