Noventiq Explained

Noventiq
Foundation:1993
Location City:London
Founder:Igor Borovikov
Revenue:$1.6 billion (FY23)[1]
Profit:$176 million (gross)
Num Employees:6400 (2023)

Noventiq Holdings plc (formerly known as Softline Holding plc) is an Information technology company focusing on digital transformation and cybersecurity.[2] Headquartered in London, and incorporated in Cayman Islands, the company operates in roughly 60 countries in Western and Eastern Europe, Central and Southeast Asia, Latin America, India, and the Middle East.[3]

History

The company was founded in 1993 in Moscow under the name of Softline as a supplier of scientific software.[4] [5] It later expanded its list of partners with Microsoft, Symantec, IBM, and up to 500 other vendors.

Starting in 2002, it expanded with representative offices in a number of the Russian and CIS cities in the following years. By that time, its services included IT outsourcing and audit, SAP and Microsoft Dynamics consulting. Since 2008, Softline expanded to over 30 countries outside CIS. In 2009, the company launched a venture investment arm. In 2014, it opened a subsidiary in India.[6]

In 2016, the company received investments from the Da Vinci Capital fund. The company has conducted a number of mergers and acquisitions with the help of the M&A team established in 2016, which was based in Moscow and London.[7] [8]

In 2020, Softline relocated its HQ to London. In the same year, its annual revenue exceeded $1.8 billion.[9] In October 2021, Softline ran an IPO on LSE.[10] In 2022, Gartner included Softline's subsidiary Softline AG into its Magic Quadrant for Software Asset Management Managed Services.[11] Following the 2022 Russian invasion of Ukraine, in October, Softline ceased operations in Russia and sold its Russian assets to the company's founder Igor Borovikov.[12] The same day the company announced a rebranding to Noventiq.[13] [14]

In April 2023, Borovikov sold Softline Russia to a local investor.[15] [16] [17]

On July 26, 2023 Noventiq announced the cancellation of listing of the Global depository receipts ("GDRs") on the London Stock Exchange.[18]

M&A

In 2020, the company acquired an Indian IT company Embee,[19] a software development company Aplana,[20] and a German Softline AG consulting company (namesake company) which operated in Austria, Belgium, Netherlands, and the UK.[21] In 2022, Softline acquired Academy IT,[22] majority stake in Softclub,[23] Belitsoft,[24] MMTR Technology,[25] Umbrella Infocare,[26] Seven Seas Technology,[27] Makronet,[28] Value Point Systems,[29] Saga Group,[30] G7CR.[31]

In May 2023, Noventiq signed business combination agreement with the Corner Growth Acquisition Corp to achieve NASDAQ listing.[32]

Management

Jacques Guers is the non-executive chairman of the board of Noventiq, Hervé Tessler the global CEO, and founder and coowner Igor Borovikov was a non-executive director.[33] In April 2023, Borovikov sold his shares to a fund managed by TETIS Capital and resigned from management.[34]

Notes and References

  1. Web site: Trading Statement Q4 FY2022 . London Stock Exchange . 11 June 2023.
  2. Web site: NOVENTIQ - New Brand of Softline. London Stock Exchange.
  3. Web site: Our offices around the world . Noventiq.
  4. Web site: History and Development. Noventiq.
  5. Web site: Russia’s Softline Slips in Trading Debut After $400 Million IPO . Bloomberg.
  6. Web site: Softline India’s Turnover touches $500 Million . VARIndia.
  7. Web site: Железко Олег Викторович . 2023-05-09 . TAdviser.ru.
  8. Web site: РВК и Da Vinci Capital создают фонд для стартапов на 6 млрд рублей . 2023-05-09 . Ведомости . ru.
  9. News: Russian tech company Softline considers IPO after annual turnover boost . 12 May 2021 . Reuters.
  10. Web site: Softline Holding PLC Start of unconditional trading on LSE. November 11, 2021.
  11. Web site: Gartner Magic Quadrant for Software Asset Management Managed Services . Gartner Research . Gartner.
  12. Web site: Softline completes sale of its Russian business Softline Russia . London Stock Exchange.
  13. Web site: NOVENTIQ – new brand of Softline .
  14. Web site: Company name change . London Stock Exchange.
  15. Web site: Softline меняет структуру собственности и повышает качество корпоративного управления . Softline Russia.
  16. Web site: АО "Софтлайн" Прекращение у лица права распоряжаться определенным количеством голосов, приходящихся на голосующие акции (доли), составляющие уставный капитал эмитента . ЦЕНТР РАСКРЫТИЯ КОРПОРАТИВНОЙ ИНФОРМАЦИИ.
  17. Web site: АО "Софтлайн" Приобретение лицом права распоряжаться определенным количеством голосов, приходящихся на голосующие акции (доли), составляющие уставный капитал эмитента . ЦЕНТР РАСКРЫТИЯ КОРПОРАТИВНОЙ ИНФОРМАЦИИ.
  18. Web site: Cancellation of Listing of the Global Depository Receipts ("GDRs") on the London Stock Exchange . Noventiq.
  19. Web site: Softline Group acquires majority stake in India's Embee. www.capacitymedia.com. 20 January 2021 .
  20. Web site: Softline Group Has Acquired Aplana Group's Software Development Business . Develonica . 2021-08-04 . 2021-08-04 . https://web.archive.org/web/20210804111314/https://develonica.com/softline-group-has-acquired-aplana-groups-software-development-business/ . dead .
  21. Web site: Softline Group's Majority Stake Acquisition in Softline AG. Paolo. Bossi.
  22. Web site: Softline acquisition of Academy IT. London Stock Exchange.
  23. Web site: Softline Acquires Majority Stake in SoftClub . London Stock Exchange.
  24. Web site: Noventiq (formerly Softline) acquires majority stake in custom software development company Belitsoft . Noventiq.
  25. Web site: Softline Acquires MMTR Technology Ltd . London Stock Exchange.
  26. Web site: Softline Acquisition of Umbrella Infocare . London Stock Exchange.
  27. Web site: Softline Acquisition of Seven Seas Technology . London Stock Exchange.
  28. Web site: Softline acquires Makronet . London Stock Exchange.
  29. Web site: Softline to acquire Value Point Systems (India) . London Stock Exchange.
  30. Web site: Noventiq acquires majority stake in Saga Group . London Stock Exchange.
  31. Web site: Noventiq acquires G7 CR Technologies in India . London Stock Exchange.
  32. Web site: Noventiq, A Leading Provider of Digital Solutions for Growth Markets, to List on Nasdaq Through Proposed Business Combination with Corner Growth Acquisition Corp. London Stock Exchange.
  33. Web site: Leadership. Noventiq.
  34. Web site: Основатель Softline объявил о выходе из бизнеса и продаже компании. ru. 2023-04-06. РБК.

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