Noventiq (formerly Softline) Group acquires majority stake in Embee Software Pvt Ltd
January 20, 2021, London-Moscow-Kolkata: Softline Group, a leading global provider of IT solutions and services, acquires Embee Software Pvt Ltd (“Embee”), one of India’s leading digital transformation service provider and a Microsoft LSP and Cloud solution partner.
Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.
Softline Group’s Indian operations, led via its subsidiary Softline Services India Pvt Ltd, will strengthen its pan-India presence and capabilities through Embee’s expertise across cloud solutions, workplace modernization products, system integration services, managed services and app services.
"Softline continues to focus on global business development. We are already present in 50 countries worldwide. Buying Embee is an investment in Softline's sustained business growth for many years to come. I believe that by 2050, India will become the fourth most important economy in the world producing about 15% of global GDP. Since Softline’s business is growing even faster than the national economies of countries where it operates, our prospects in India appear truly remarkable,” says Igor Borovikov, Softline founder and Chairman of the Board.
“India is a key strategic market for Softline Group and the partnership with Embee represents our commitment to offer the best solutions to our growing customer base in the country. Embee is a respected and trusted Microsoft partner with over 30 years of experience in cloud solutions and services. We believe this strategic combination will be a big step towards the expansion of our regional footprint and capabilities.” says Sergey Chernovolenko, Global CEO of the Softline Group.
Roy Harding, President of Softline International, adds “Embee has one of the strongest teams driving Microsoft's cloud transformation solutions in India. Their expertise in integrating systems through hardware and software from other leading partners like Adobe, HP and Cisco will help Softline to establish itself in this market in a stronger and more established way. Embee is characterized by the high quality of services it offers, which has resulted in the company having excellent business relationships and an important list of clients all over India. We proudly welcome this experienced team of technology professionals to Softline’s family.
Founded in 1992 and headquartered in Kolkata, in eastern India, Embee employs over 400 people and has more than 1,500 customers. The company is a strategic partner of Microsoft, Dell EMC, Hewlett Packard Enterprise, Cisco, Adobe and other IT giants. For the past five years, Embee’s business has been growing at an average rate of over 30% a year. Cloud services account for about 60% of the company's revenue, while the rest comes from software licensing, systems integration services, cybersecurity solutions, ERP, HR management and other systems.
Sudhir Kothari, Managing Director of Embee Software Pvt Ltd, adds: “Softline Group is one of Microsoft’s 8 globally managed LSPs, and this partnership represents a great opportunity to expand Embee’s reach within India as well as overseas. We look forward to joining hands with Softline’s team in India to deliver a better value proposition to our clients and forge a stronger growth story together.”
As part of the transaction, the formal merger process is expected to be finalised within the next 18 months leading to a complete integration of the platforms. Advisors to the transaction included KPMG Corporate Finance, Backbay Advisors, PDS Legal and Radhika Singh & Associates.
About Softline Group
Softline is a leading global Information Technology solutions and services provider focused on emerging markets of Eastern Europe, Americas, and Asia. Softline helps customers achieve digital transformation and protect their business with cybersecurity technologies. Their services include end-to-end technology solutions, public and private clouds, software and hardware provisioning and broad array of associated services.
Softline Group’s consolidated turnover in 2020 exceeded $2 billion US dollars with sales growth 13.2%. Softline has offices in 50 countries and 95 cities worldwide. With more than 25 years of distinguished history, the Group has managed to grow rapidly while consolidating technology expertise and a business model encompassing all emerging markets.
About Embee Software Private Limited
Embee Software Private Ltd is a leading Indian Technology solutions and services provider focused on driving digital transformation in the Indian mid-market, with a turnover close to $100 million USD. Embee’s mission is to enable organizations to transform with technology in a digital, mobile-first, data-driven world. The company’s solution portfolio span across the public & hybrid cloud, modern workplace, business apps, data analytics, cybersecurity, smart-classrooms & surveillance, all backed by support and managed services operations.
Embee maintains a strategic relationship with leading technology OEM’s in India. In particular, Embee has been a Microsoft partner for over 27 years, and a key LSP since 2010. As an early adopter of Cloud solutions, Embee was recognized as the Cloud Software Partner of the Year for APAC by Canalys in 2017, and as Microsoft Country Partner of the Year in 2018.