London-based IT consulting firm Noventiq has closed on its latest acquisition, this time acquiring the majority stake in Saga Group for an undisclosed amount.
This is technology M&A deal number 57 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Noventiq Acquires Saga Group
Noventiq was previously known as Softline Holdings but changed its name in October 2022. The company is based in London, England, and has 941 employees listed on LinkedIn. Noventiq’s areas of expertise include digital transformation, cybersecurity, information management, modern hybrid infrastructure, multi-cloud solutions, future workplace solutions, software engineering, software development, emerging markets IT and IT consultant.
Saga Group, founded in 1989, is based in Belgrade, Serbia. The company has 212 employees listed on LinkedIn. Saga Group’s areas of expertise include ITC, IT Solutions, IT Services, IT Infrastructure, Software, Network Solutions, Security solutions, CRM, Digital transformation, Contact Center Solutions, BI, Big Data, ERP solutions, Data Center, Identity Management, AI, Artificial Intelligence, and Software solutions.
Noventiq announced that it had signed an agreement to acquire Saga Group in September 2022. The transaction strengthens Noventiq’s presence in Eastern Europe and opens other markets such as Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia, according to the company.
Saga Group, and all its subsidiaries, will continue to operate under its existing brand while incorporating the ‘a Noventiq company’ into its logo, the company said. 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.
Saga will benefit from Noventiq’s global reach as well as Noventiq’s portfolio, including relations with vendors like Adobe, Amazon Web Services (AWS), Citrix, Google Cloud Platform (GCP), Microsoft, among multiple others, the company asserted.
Noventiq’s Saga Acquisition: Executive Insight
Herve Tessler, president and COO, Noventiq, commented:
“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.”
Noventiq’s M&A Plays
This is Noventiq’s second acquisition of the month, having previously bought Egypt-based Microsoft Partner DigiTech.
The company changed its name from Softline Holdings in 2022 and began buying companies, including Value Point Systems.
