Noventiq closes Saga Group acquisition
21/02/2023 07:00
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RNS Number : 4868Q Softline Holding PLC 21 February 2023
Softline Holding plc
("NOVENTIQ" or the "Company")
Noventiq closes Saga Group acquisition
London, 21 February 2023.- Noventiq (LSE: SFTL), the global digital
transformation and cybersecurity solutions and services provider, announces
today that the acquisition of the majority stake of Saga Group has been
closed.
In September 2022, Noventiq signed an agreement to acquire Saga Group. The
transaction strengthens Noventiq's presence in Eastern Europe as well as
opening other markets such as Serbia, Montenegro, Bosnia and Herzegovina, and
North Macedonia.
With this acquisition, Noventiq customers now have access to Saga Group's 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 offering process automation, data management and personal advisory.
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.
Saga Group, and all its subsidiaries, will continue to operate under its
existing brand while incorporating the 'a Noventiq company' into its logo. The
group, which will maintain its headquarters in Belgrade, will continue to be
led by its current management team, and the President of Saga Supervisory
Board, Dejan Popovic.
Now that the deal has been closed, the scope of support that Saga, and its
subsidiaries, offers to its customers will expand thanks to Noventiq's global
position. The company will gain more international exposure as well as the
access to Noventiq's expanded portfolio thanks to its global partner
relationships which include vendors like Adobe, Amazon Web Services (AWS),
Citrix, Google Cloud Platform (GCP), Microsoft, among multiple others.
Herve Tessler, President and COO at Noventiq, says: "The closing of this deal
will strengthen Noventiq's footprint in the Eastern European region, which is
a key strategic approach for our company in 2023. Saga's solutions offerings
and sophisticated own IP will help Noventiq to grow our portfolio capabilities
in the region and beyond."
Dejan Popovic, President of Saga Supervisory Board, said: "I am very excited
with the announcement of the closing of this deal because it implies that now
Saga Group and its customers will benefit from Noventiq's strong connections
and relationships at a global scale with top IT leaders such as AWS, Google,
Microsoft, VMWare and many others. We are also very keen to work alongside
their workforce of almost 5,900 employees all with extraordinary skills."
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.
Noventiq's 5,900 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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