Noventiq acquires majority stake in Saga Group
17/11/2022 10:31
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RNS Number : 7853G Softline Holding PLC 17 November 2022
Softline Holding plc
("Noventiq" or the "Company")
Noventiq acquires majority stake in Serbian Saga Group, reinforcing its global
portfolio and presence in Eastern Europe
· Belgrade-based digital solutions provider Saga Group has
operations in more than 25 countries. It is an advanced partner of Microsoft,
Oracle and Cisco, amongst others.
· The acquisition brings over 400 expert staff to Noventiq, with
plans to expand expertise from Saga's and its IP across Noventiq's customer
base worldwide
· Saga's digital banking IP has been adopted by financial
institutions across Europe, Africa and the Middle East
London, 17(th) November 2022. Noventiq [Softline Holding PLC / SFTL,
US83407L2079] (Noventiq Group, the Group, or the Company), the
Cyprus-registered global digital transformation and cybersecurity solutions
and services provider, has today announced the signing of an agreement to
acquire the majority of Serbian software and digital solutions leader Saga
Group. The acquisition represents a significant addition to Noventiq's
portfolio thanks to Saga´s offerings from Microsoft, Oracle, Cisco and many
others.
Following Noventiq's three-dimensional growth strategy announced at last
year´s IPO, this transaction further accelerates Noventiq´s business
expansion. It also strengthens Noventiq's operations and competences in
digital infrastructure, managed solutions and services in Central and Eastern
Europe. The incorporation of Saga Group to Noventiq also brings an
extraordinary team of over 400 people, including more than 300 highly skilled
and experienced IT professionals, to build and deliver critical components of
the digital infrastructure and transformation process to regional customers.
With this acquisition, Saga Group's local customers will now have access to
Noventiq´s full portfolio of solutions and services. And will also benefit
from the expertise of Noventiq's almost 4,000 people in the 60 countries where
the company operates.
For more than 30 years, Saga Group has secured its place as a market leader
operating in 25 countries, and growing fast thanks to the over 400 employees
located in four countries of Western Balkans. The group has become a leading
end-to-end next generation digital infrastructure and mission critical
solutions provider, not only in the core countries but also in the Middle East
and Africa with technology partners such as Oracle, Cisco, DELL, Hewlett
Packard Enterprise, Juniper, VMWare, among others.
Saga Group has also built a portfolio of their own digital products, including
its own IP for digital banking, Fintense, created by Saga's subsidiary NF
Innova, which is an omnichannel digital banking platform (Internet banking,
Mobile banking, Kiosks, ATMs) offering process automation, data management and
personal advisory. Fintense has already been chosen by multiple international
banking entities based in Malta, Serbia, Romania, Montenegro, Qatar, Republic
of South Africa, and North Macedonia. Saga's other sophisticated IP platform,
Weaver which is a mature AI developed chatbot, and Selecta, which is a next
generation AI-empowered CRM platform are owned and created by Intellya,
another subsidiary of Saga Group.
Herve Tessler, President and COO at Noventiq, commented: "We are very proud to
welcome Saga's team to Noventiq. Saga's solutions offerings and sophisticated
own IP will help Noventiq to not only expand its geographical presence, but
also entrench our portfolio capabilities. Saga's fintech solutions are about
transforming legacy banks and institutions into digital leaders, and thanks to
this transaction, our customers from a wide array of sectors will be able to
benefit from Saga's extraordinary technology."
Dejan Popovic, President of Saga Supervisory Board, said: "By joining
Noventiq, Saga will be able to add more value to its clients by providing
better and broader solutions and services. At the same time, this transaction
will help to fulfill strategic ambitions of Saga's team to bring its
expertise, solutions and IP to more customers globally. Noventiq is a
fast-growing company with excellent vendor relationships worldwide and a team
of almost 4,000 people and we are keen to see what we can do to help further
accelerate Noventiq's growth."
Contacts:
Steven Salter
Global Investor Relations VP
IR@noventiq.com (mailto:IR@noventiq.com)
Rocio Herraiz
Global Head of Communications
Rocio.herraiz@noventiq.com (mailto:Rocio.herraiz@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.
Additional information about the company can be found here:
(https://noventiq.com/investor-relations) https://noventiq.com
(https://noventiq.com/investor-relations)
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