Softline Holdings has rebranded as Noventiq, and the London-based IT consulting firm is in acquisition mode -- buying MSPs and cybersecurity consulting firms. Recent purchases include Saga Group and Value Point Systems.
These are technology M&A deals number 966 and 967 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Noventiq Buys Saga Group; Gains Managed Services and Banking Intellectual Property.
Noventiq specializes in digital transformation and cybersecurity solutions. The company generated turnover of roughly US$1.1 billion in the fiscal year of 2021. Noventiq has 3,900 employees across 60 countries, and those team member support roughly 75,000 customers worldwide.
Saga Group is a Serbian software and digital solutions provider that partners closely with Microsoft, Oracle and Cisco Systems, among other companies. Saga Group has roughly 400 employees -- including 300 IT professionals. Key areas of expertise include managed services, as well as specialized intellectual property in the banking vertical.
In a prepared statement about the Saga Group acquisition, Noventiq President and CEO Herve Tessler said:
“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.”
Added Dejan Popovic, president of Saga Supervisory Board:
“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.”
Noventiq Buys Value Point Systems; Gains MSP and Cybersecurity in India
Shortly ahead of the rebrand from Softline Holdings to Noventiq, the company in October 2022 also acquired Value Point Systems, an IT infrastructure and cybersecurity solutions provider in India.
Value Point Systems has roughly 1,200 employees, and the company serves more than 2,000 customers in India. Key technology partners include Hewlett Packard Enterprise, HP, CISCO, CrowdStrike, Zscaler, Microsoft, AWS, VMWare, and IBM's Red Hat, among others.
In a prepared statement about the Value Point Systems deal, Noventiq President and CEO Herve Tessler 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 $1 billion 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 2,200 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."
Added RS Shanbhag, CEO of Value Point Systems:
“We are truly excited to become part of Softline, a global company with a presence in all major markets around the world. Thanks to this strategic move, we will be able to grow beyond our highest expectations, by having access to Softline’s own portfolio and to the world's top vendors solutions and services, which will enable our teams to offer an even better and wider range to our customers. Building this company was a challenge but above all an exciting journey. I now look forward to seeing whats next in our successful future together in India and beyond.”
Equiteq, a global investment bank, advised Value Point Systems on the sale.
