Cavendish is pleased to have advised the shareholders of Alchemy Technology Services, a specialist insurance technology consultancy on its sale to NTT DATA, a global innovator in AI, digital business and IT services.

Founded in 2018, Alchemy provides specialist technology delivery services to the global insurance industry. In addition to its strong consultancy and Guidewire credentials, Alchemy brings deep expertise in the specialty insurance market and has grown significantly over the past five years as well as developing a unique delivery and training model.

The acquisition will significantly enhance Alchemy’s ability to scale, extend its international footprint, and drive innovation in partnership with some of the world’s largest insurers. It will also support NTT DATA’s insurance strategy and strengthen its delivery capability across key markets. Alchemy will continue to operate under its own name as a separate legal entity within the NTT DATA group.

Tom Stoten, Director at Cavendish, commented:

“Alchemy’s growth story is a powerful example of what’s possible with a clear focus, technical depth and sector understanding. It has been a pleasure to have supported the team in finding a long-term strategic partner to help them scale internationally.”

This transaction adds to Cavendish’s strong track record in the technology sector. Recent clients include OLM Systems, DigitalXRAID, and Sava Technology, with deals spanning SaaS, cybersecurity, technology services, data analytics and GovTech. Since January 2024, Cavendish has advised on more than 24 tech transactions, helping founders and investors unlock strategic growth opportunities with domestic and international buyers.