Noventiq closes DigiTech acquisition
31/01/2023 10:07
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RNS Number : 4104O Softline Holding PLC 31 January 2023
Softline Holding plc
("Noventiq" or the "Company")
Noventiq closes DigiTech acquisition
London, 31 January 2023.- Noventiq (LSE: SFTL), the global digital
transformation and cybersecurity solutions and services provider, announces
today the closing of the acquisition of Egypt-based DigiTech.
In September 2021, Noventiq (formerly Softline) signed an agreement to
establish a joint-venture with DigiTech strengthening Noventiq's North African
presence.
DigiTech is one of the leading and fastest growing Microsoft partners in Egypt
with both Microsoft Cloud Solution Provider (CSP) and Licensing Solution
Provider (LSP) status. It has deep expertise in cloud services, particularly
Azure computing and M365, a mature cloud-based suite for delivery of cloud
services. DigiTech boasts high profitability, cash generation and a
substantial network of Public Sector and Commercial Customers.
Through this acquisition, DigiTech has now access to Noventiq's global
solutions and services portfolio covering security, infrastructure,
virtualization, and other global vendors which will help the Egyptian company
to diversify its technology offerings around multi-cloud and modern workplace
solutions by accessing Noventiq's shared services delivery centres in India.
With the closing of the deal, Noventiq Egypt's team will join forces with
DigiTech, becoming one unified entity for the Egyptian market and starting to
operate under the brand of "DigiTech, a Noventiq company". DigiTech, which
will continue to be headquartered in Cairo, will also be retaining its
employee base, and also welcome Noventiq's Egypt team into their offices.
While Mohamed Mostafa, DigiTech's Chief Executive Officer, will continue to
lead the company, DigiTech has appointed Noventiq's President and COO, Hervé
Tessler, to be the Chairman of their Board of Directors.
Hervé Tessler, President and COO at Noventiq, commented: "I am very excited
to be part of the Board of Directors at DigiTech, an excellent company with an
enormous potential for growth within Egypt and beyond. By welcoming DigiTech's
pool of talent, we are also getting outstanding professionals with brilliant
IT skills and capabilities that will complement our own. Noventiq will also
benefit from DigiTech's market leading position and their world-class
portfolio business which includes IT services and solutions, such as
licensing, cloud, security, access management and infrastructure management to
customers spanning several industries. Through this acquisition, Noventiq is
fulfilling on its three-dimensional growth strategy to expand its geography,
portfolio and sales channel capabilities".
Atul Ahuja, Senior Vice President of Middle East, Africa and Asia at Noventiq,
said: "With DigiTech becoming a Noventiq company, we are very excited to
deliver our global expertise with local outcomes. MEA as a fast-growing
region, and Egypt in particular is a very strategic market for Noventiq as
it´s our first footprint in the African continent. We are very confident to
offer our global capabilities in cloud, managed services, and cyber security;
driving innovation and digital transformation for to Egyptian enterprises,
government, and the tech community".
Mohamed Mostafa, CEO at DigiTech, a Noventiq company, commented: "Noventiq is
a leading global IT provider which will not only enrich our portfolio of
solutions and services, but also help us expand beyond our own frontiers
building an extraordinary future for all of our teams and customers. We are
very much looking forward to welcome Noventiq Egypt's team to our offices here
in Cairo, and are grateful to Herve Tessler, Noventiq's president and COO for
joining our Board of Directors, supporting our own growth and business
strategy."
Contacts:
Steven Salter Rocio Herraiz
Global Investor Relations VP Global Head of Communications
ir@noventiq.com (mailto:ir@noventiq.com) pr@noventiq.com (mailto:pr@noventiq.com)
About Noventiq
Noventiq is a leading global solutions and services provider in digital
transformation and cybersecurity, headquartered and listed in London. The
company enables, facilitates and accelerates digital transformation for its
customers' businesses, connecting 75,000+ organisations from all sectors with
hundreds of best-in-class IT vendors, alongside its own services and
solutions.
Noventiq - led by a highly qualified board of directors including Jacques
Guers, Roy Harding, Igor Borovikov, Karl Robb, Marc Kasher, and Sergey
Chernovolenko - reported a turnover of US$ 1.1 billion in the fiscal year of
2021, and is currently one of the fastest growing companies in the sector. In
October 2021, company 'Softline Holding plc' received its primary listing on
the London Stock Exchange (LSE:SFTL).
Noventiq's 5,700 employees work in almost 60 countries throughout Asia, Latin
America, Eastern Europe and Africa-markets with significant growth potential.
Additional information about the company can be found here:
https://noventiq.com/ (https://noventiq.com/)
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