Noventiq (formerly Softline) acquires majority stake in custom software development company Belitsoft
Noventiq (formerly Softline), a leading global IT solution and services provider with a focus on digital transformation, cloud, and cybersecurity, has finalized the acquisition of the majority stake in Belitsoft, the Eastern European company with over 17 years of market experience in custom software development.
Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.
Founded in 2004, today Belitsoft is a team of 400+ software development experts who provide full-cycle software development services and staff augmentation.
The company is a reliable partner for clients in the US, the UK, the EU, and Israel, including both small businesses and companies with thousands of employees. Belitsoft specializes in software development for eLearning, Healthcare, FinTech, Artificial Intelligence, and complex projects of more than 2000 hours.
The deal is an important milestone in Softline’s current growth strategy and will help accelerate geographic expansion, while bringing additional skills and capabilities into the company, particularly in data and related technologies, cloud services, and custom software development.
Sergey Chernovolenko, CEO, Softline said:
“This year, we will be implementing a strategy, to build up our expertise in several key areas. This will see us increase the number of developers we partner with, and companies such as Belitsoft are central to this vision.
In 2022, we will also continue to strengthen our cybersecurity offering, while creating more exclusive solutions for digital transformation based on IoT, artificial intelligence and RPA technologies.”
Vladimir Tursin, CEO, Belitsoft commented:
“It is hugely rewarding to see how Belitsoft has evolved from a small family company to a mature one which is now joining forces with a big international public company. Over the past 5 years, Belitsoft has grown by more than 30% per year and today the number of Belitsoft employees exceeds 400 people. With the support of Softline, our company is expecting to accelerate its growth to reach 800 employees in less than 3 years. But above all, our goal is to increase customer and employee satisfaction.”
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers’ businesses, connecting over 150,000 organizations from all industries with over 6,000 best-in-class IT vendors, and delivering its own services and solutions.
Currently one of the fastest growing companies in the sector, Softline achieved a turnover of US$1.8 billion in the fiscal year of 2020. In October 2021, the company listed on the London and Moscow stock exchanges.
Softline's 6,000 employees work in more than 50 countries throughout Asia, Latin America, Eastern Europe and Africa – markets with significant growth potential. The company delivers a comprehensive range of IT solutions and is at the center of the digital transformation megatrend.