Softline to acquire Value Point Systems (India)
10/10/2022 12:09
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221010:nRSJ3614Ca&default-theme=true
RNS Number : 3614C Softline Holding PLC 10 October 2022
Softline Holding plc
("Softline" or the "Company")
Softline reinforces its business footprint in India with acquisition of
cybersecurity and digital transformation leader Value Point Systems
London, 10 October 2022 - Softline (LSE: SFTL), the global IT and digital
transformation solutions and services provider, today announces the signing of
an agreement to acquire Indian digital infrastructure and cybersecurity
solutions & services company Value Point Systems.
The transaction further strengthens Softline´s business operations and
capabilities in cybersecurity, digital infrastructure, managed solutions and
services in India. Because of this acquisition, which embodies Softline´s
strategy and vision for India of "investing in India for India", Value Point
System´s 2,000 local customers will now have access to Softline´s full
portfolio of solutions and services.
With over 30 years´ experience, Value Point Systems is growing thanks to over
1,200 employees distributed in seven offices across the country. The company
has become a leading end-to-end next generation digital infrastructure and
cybersecurity solutions provider in India with technology partners such as
AWS, Cisco, CrowdStrike, Hewlett Packard Enterprise, HP, Microsoft, VMWare,
Zscaler, among others. Throughout the years, Value Point Systems has built a
portfolio which today includes six end-to-end solutions and services:
cybersecurity, data centre modernisation, network transformation, cloud
transformation, digital workplace, and IT managed services. These solutions
will completement Softline's own portfolio.
Specifically, once the acquisition of Value Point Systems is completed,
Softline will strengthen its global cybersecurity proposition with the
capabilities of VPS' Security Operation Centre, one of the industry's leading
in India. Value Point Systems' cybersecurity integration capabilities, and
sophisticated cybersecurity consultancy offering, will augment Softline´s
existing services.
Additionally, Value Point Systems will bring more than 800 highly skilled
digital engineers to Softline´s team. These professionals will continue to
deliver excellent digital infrastructure management and transformation
services to customers in India augmenting what is now being done by
Softline´s team.
Vinod Nair, VP of Global Sales, General Manager for Softline India, commented:
"According to a recent report by NTT, 96.3% of businesses in India see cloud
as something critical to transforming their business. Today, there are 1.48
million* companies in India who are the at the cusp of adopting cloud or
implement advanced cybersecurity solutions to protect their assets. As a
leading solutions provider in India, Softline plans to help them choose the
right digital and cybersecurity solutions in their quest to become more
successful by adding efficiency, speed, security and simplicity to their daily
work. Thanks to the acquisition of Value Point Systems, Softline will now be
able to complement its portfolio of cloud and cybersecurity solutions, as well
as its IT management services workforce. We are bringing in a company with
over 30 years' experience in the market, and a value set that is accretive for
our customers besides helping us reinforce our local footprint in India."
Hervé Tessler, CEO at Softline International, said: "Value Point Systems
constitutes the fourth acquisition made by our company in 2022, accelerating
the three-dimensional growth strategy that we announced at our last year´s
IPO. We invest in India for India, and our goal is to make our subsidiary in
India a $1billion business thanks to the rapid organic growth and to the
success of companies like Value Point Systems. In addition to great digital
infrastructure solutions, IT managed services, cybersecurity and other
services, we are also adding an incredible team of 1,200 people to Softline´s
family bringing our Indian presence to more than 2200 people. We are very
excited to welcome Value Point Systems´ colleagues onboard, and I am sure
that by joining our workforce, alongside the teams from Embee and Umbrella
Infocare, we will build together a true multi-cloud digital Indian market
leader; a prime technology partner for any Indian company that aspires to
digitally transform to accelerate and increase revenues and acquire
operational excellence."
RS Shanbhag, Founder, Chairman and CEO at Value Point Systems, commented: "We
are truly excited to become part of Softline, a global company with presence
in almost 60 countries around the world. Thanks to this new step in our
company´s journey, we will now be able to grow beyond our highest
expectations, and will also have access to the world´s top vendors solutions
and services and to Softline's own portfolio which will enable our teams to
offer an even better and wider range to our customers. Building this company
was a real challenge, an exciting process, and I am really grateful to
Softline´s team for welcoming us with open arms. I look forward to seeing
what´s next in our successful future together in India and beyond."
Media contact
Rocio Herraiz
Head of Global Communications at Softline
rocio.herraiz@softline.com
Eve Frayling
Pagefield PR agency
softline@pagefield.co.uk
+44 (0)7896 540438
About Softline
Softline is a leading global solutions and services provider in digital
transformation and cybersecurity, headquartered in London. The company
enables, facilitates and accelerates digital transformation for its customers'
businesses, connecting 150,000+ organizations from all sectors with 6,000+
best-in-class IT vendors, alongside its own services and solutions.
With a turnover of US$ 2.2 billion in the fiscal year of 2021, Softline is
currently one of the fastest growing companies in the sector. In October 2021,
the company got its primary listing on the London stock exchange (LSE: SFTL).
Softline's growth is underpinned by its three-dimensional strategy to expand
its geography, portfolio and sales channels. The strategy is supported by
Softline's active approach to M&As, enabling the company to take advantage
of the ongoing consolidation in the industry. During the fiscal year of 2021,
Softline has acquired several companies with annual turnover totalling
approximately US$ 200 million, including five acquisitions that have been
announced in the first six weeks of 2022.
Softline's 8,400 employees work in almost 60 countries throughout Asia, Latin
America, Eastern Europe, Middle East and Africa-markets with significant
growth potential.
About Value Point Systems
Value Point Systems works to accelerate its customers' business transformation
journey through their competence in consulting, digital integration and
security, delivering next-gen digital infrastructure technologies, solutions
and services.
The company collaborates with trusted IT partners to deliver outstanding
results through their portfolio services, helping organisations in India to
digitally transform their businesses to enhance revenue, profitability,
business outcomes and customer experience.
*Statista
(https://www.statista.com/statistics/1008330/india-number-of-registered-active-companies-by-type/#:~:text=As%20of%20June%202022%2C%20there,by%20shares%20in%20the%20country.)
: As of June 2022, there were over 1.48 million registered companies in India.
*Economic Times of India
(https://economictimes.indiatimes.com/tech/information-tech/96-3-of-businesses-in-india-see-cloud-as-critical-to-meeting-business-needs-ntt/articleshow/80969609.cms)
- NTT report - About 89% of businesses in India said that the pandemic has
forced them to rely on technology more than ever, according to NTT's 2021
Hybrid Cloud Report
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END MSCGZMMGMGNGZZM