The globally renowned Zagreb-based IT company Five has been sold to the British Endava software company for HRK 250 million ($40m), Five said on Thursday.

Endava will pay for one part of the acquisition in money and for one in the exchange of shares and an award for the continuation of Five’s development.

Five employs 157 experts and has offices in New York and Zagreb. Most of its clients are from the U.S.

Endava offers business digital transformation services and employs 7,500 people. It is present in the U.S., Australia, Slovenia, Bosnia and Herzegovina, Serbia, Romania, Moldova, Bulgaria, North Macedonia, Argentina, Uruguay, Venezuela, and Colombia.