Noventiq closes DigiTech acquisition
Noventiq announces today the closing of the acquisition of Egypt-based DigiTech.
31 January 2023, London, UK.- In September 2021, Noventiq (LSE: SFTL), the global digital transformation and cybersecurity solutions and services provider, signed an agreement to establish a joint-venture with DigiTech strengthening Noventiq’s North African presence.
DigiTech is one of the leading and fastest growing Microsoft partners in Egypt with both Microsoft Cloud Solution Provider (CSP) and Licensing Solution Provider (LSP) status. It has deep expertise in cloud services, particularly Azure computing and M365, a mature cloud-based suite for delivery of cloud services. DigiTech boasts high profitability, cash generation and a substantial network of Public Sector and Commercial Customers.
Through this acquisition, DigiTech now has access to Noventiq’s global solutions and services portfolio covering security, infrastructure, virtualization, and other global vendors which will help the Egyptian company to diversify its technology offerings around multi-cloud and modern workplace solutions by accessing Noventiq’s shared services delivery centres in India.
With the closing of the deal, Noventiq Egypt’s team will join forces with DigiTech, becoming one unified entity for the Egyptian market and starting to operate under the brand of “DigiTech, a Noventiq company”. DigiTech, which will continue to be headquartered in Cairo, will also be retaining its employee base, and also welcome Noventiq’s Egypt team into their offices. While Mohamed Mostafa, DigiTech’s Chief Executive Officer, will continue to lead the company, DigiTech has appointed Noventiq’s President and COO, Hervé Tessler, to be the Chairman of their Board of Directors.
Hervé Tessler, President and COO at Noventiq, commented:
“I am very excited to be part of the Board of Directors at DigiTech, an excellent company with an enormous potential for growth within Egypt and beyond. By welcoming DigiTech’s pool of talent, we are also getting outstanding professionals with brilliant IT skills and capabilities that will complement our own. Noventiq will also benefit from DigiTech’s market leading position and their world-class portfolio business which includes IT services and solutions, such as licensing, cloud, security, access management and infrastructure management to customers spanning several industries. Through this acquisition, Noventiq is fulfilling on its three-dimensional growth strategy to expand its geography, portfolio and sales channel capabilities”.
Atul Ahuja, Senior Vice President of Middle East, Africa and Asia at Noventiq, said:
“With DigiTech becoming a Noventiq company, we are very excited to deliver our global expertise with local outcomes. MEA as a fast-growing region, and Egypt in particular is a very strategic market for Noventiq as it´s our first footprint in the African continent. We are very confident to offer our global capabilities in cloud, managed services, and cyber security; driving innovation and digital transformation for to Egyptian enterprises, government, and the tech community”.
Mohamed Mostafa, CEO at DigiTech, a Noventiq company, commented:
“Noventiq is a leading global IT provider which will not only enrich our portfolio of solutions and services, but also help us expand beyond our own frontiers building an extraordinary future for all of our teams and customers. We are very much looking forward to welcome Noventiq Egypt’s team to our offices here in Cairo, and are grateful to Herve Tessler, Noventiq’s president and COO for joining our Board of Directors, supporting our own growth and business strategy.”
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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. In October 2021, company ‘Softline Holding plc’ received its primary listing on the London Stock Exchange (LSE:SFTL).
Noventiq's 5,700 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/