Noventiq acquires G7 CR Technologies in India
16/12/2022 07:00
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RNS Number : 9153J Softline Holding PLC 16 December 2022
Softline Holding plc
("Noventiq" or the "Company")
Noventiq is acquiring India's leading Cloud Managed Services Provider, G7 CR
Technologies
· Noventiq will strengthen its capability for delivering services
for Microsoft Azure migrations and support through the acquisition of G7 CR
Technologies. Microsoft's Azure business is historically growing globally at
40-60% every year.
· Headquartered in Bengaluru, G7 CR Technologies is considered
India's leading Managed Services Provider for Azure-based cloud solutions
offering services from advisory to migration, implementation, security and
optimization, among others. G7 CR is also a significant player in the market
for Microsoft products.
· This transaction represents the fourth acquisition of Noventiq in
India which highlights the company's goal on continuing to invest in India,
for India.
London, 16 December 2022.- Noventiq (LSE: SFTL), the global digital
transformation and cybersecurity solutions and services provider, announces
today the signing of an agreement to acquire one of India's principal
Microsoft partners, G7 CR Technologies India Pvt Ltd. This acquisition further
strengthens Noventiq's place as the leading player in the market for Microsoft
solutions in India, one of the world's fastest growing IT markets.
G7 CR, which currently works with over 600 customers from the SME, enterprise,
government, and start-up sectors across India, will bring 200 excellent
professionals to Noventiq's family.
Headquartered in Bengaluru, G7 CR Technologies was founded in 2012. Since the
beginning, the company has focused on providing primarily Microsoft
Azure-based solutions and services as well as Microsoft products. In addition
to this, G7 CR is a Microsoft Solution partner for Data & AI,
Infrastructure, Digital & App Innovation, Modern Work & Security. G7
CR has received Microsoft's Country Partner of the Year Awards in 2019 and
2020. G7 CR also has a strong presence in the Middle East which complements
Noventiq's growth strategy in that region.
This transaction follows a series of acquisitions made by Noventiq in India in
the past two years; Value Point Systems, which was announced in October 2022,
Umbrella Infocare, acquired in February 2022, and Embee, acquired in January
2021. All these companies, together with G7 CR, complement Noventiq´s
capabilities to deliver the most modern set of solutions and services to
customers of all types in this dynamic market - from large Indian global
corporations to digital-natives born in the cloud. This set of offerings
includes multi-cloud solutions, software, cybersecurity and infrastructure.
Sergey Chernovolenko, CEO at Noventiq, commented: "We are extremely happy to
welcome G7 CR team to Noventiq. This transaction represents our fourth
acquisition in this country which shows how important it is for our strategy
to continue to invest in India, for India. Our goal is to have a $1Bn business
in India in the mid-term, and thanks to the incorporation of successful
organisations like G7 CR, this goal will become a reality soon.
This acquisition is particularly important because through G7 CR we will be
able to boost our Microsoft Azure services business, as well as better access
India's vibrant sector of high-tech companies and start-ups."
Christopher Richard, Managing Director and Founder, G7 CR Technologies India
Pvt Ltd, said: "We are very proud to have captured the eye of Noventiq's
leadership team. Noventiq's global scale and G7CR's technology skills combined
will enable us to provide a wider solution offering, and deeper tech
engagements, to our existing and future customers. Further, this acquisition
will give G7 CR access to a full portfolio of solutions and services from
multiple global technology providers, as well as the opportunity to
collaborate with a team of almost 3,900 excellent professionals. By joining
Noventiq, we will contribute to their strategy of expanding Noventiq's
footprint across India and beyond."
Contacts:
Steven Salter
Global Investor Relations VP
ir@noventiq.com (mailto:ir@noventiq.com)
Rocio Herraiz
Global Head of Communications
pr@noventiq.com (mailto:pr@noventiq.com)
About Noventiq
Noventiq is the new brand name of Softline Holding plc, one of the fastest
growing players in the sector. It is a leading global solutions and services
provider in digital transformation and cybersecurity, headquartered in London.
Under this brand, the company enables, facilitates and accelerates the digital
transformation of its customers' businesses, connecting over 75,000
organisations from all industries with hundreds of best-in-class IT vendors,
and delivering its own services and solutions.
The company delivered turnover of approximately US$1.1 billion in the fiscal
year of 2021. It is listed on the London Stock Exchange following its
successful IPO in October 2021.
The company´s c. 3,900 employees, work in almost 60 countries throughout
Asia, Latin America, Europe, Middle East and Africa - markets with significant
growth potential. Since the start of the financial year on April 1, 2022,
Noventiq announced six acquisitions to further boost its geographical presence
and strengthen the global portfolio.
Additional information about the company can be found here:
https://noventiq.com/
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