Gen-i divests Davanti Consulting through management buyout

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Gen-i divests Davanti Consulting through management buyout
Davanti to continue to operate as strategic partner based within Gen-i premises

Gen-i has today announced that it has signed a conditional agreement to transfer ownership of Davanti Consulting’s New Zealand operations to Davanti Principal Consultants Justin Hamilton, Matt Farrar and Robert Carter through a management buyout. The transaction is expected to settle on 31 May.

Under new ownership, Davanti will gain the added independence beneficial for a consulting business, and while Gen-i will no longer carry the cost of ownership, the two businesses will retain their collaborative working relationship. Davanti will continue to operate from Gen-i’s premises in Auckland and Wellington.

Gen-i CEO Tim Miles says: “It makes sense for both Davanti and Gen-i to move this part of our business to independent ownership. Davanti is a great business, developed from the ground up by some very talented people. It’s fitting that they will now own the business they have built so successfully. Gen-i will continue to partner with Davanti to leverage their expertise for the benefit of our clients.”

Davanti Principal Consultant Robert Carter says: “Having established the Davanti business nearly six years ago, we are genuinely excited by the opportunity to lead the business forward to the next stage of growth. We have a strong client base that trusts us explicitly, and we will continue to leverage our experience, energy and talented people to accelerate the delivery of positive outcomes for both new and existing clients.”

Davanti was founded in 2007 to assist clients in accelerating change within their organisations, and has since grown to employ 80 consultants in its New Zealand business. Davanti works with many of New Zealand’s leading organisations across private and public sectors, providing strategic advice, business transformation, industry knowledge, and the design and delivery of cloud-based applications. For more information visit www.davanti.co.nz
ENDS

About Gen-i
A member of the Telecom New Zealand Group, Gen-i delivers managed services across IT and communications to support the success of its 2,800 private and public sector clients.

In the 12 months ended 30 June 2012, Gen-i’s operating revenue was $1.36 billion.

For more information, visit www.gen-i.co.nz

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