Noventiq (formerly Softline) expands European presence through acquisition of Squalio
10 September, 2021, London/Moscow/Latvia: Softline, a leading global IT solutions and services provider with a focus on digital transformation, cloud and cybersecurity, acquires the licensing business of Squalio, an international data technology company, in the following countries: Latvia, Lithuania, Belarus and Estonia. Licensing business of Squalio represented 98% of its total revenue in 2020.
Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.
The deal strengthens Softline’s presence in the region, aligns with plans to further expand across Europe, and accelerates the Company’s global expansion strategy. Squalio CEO Sandis Kolomenskis will continue to lead the licensing business with support from Softline among other different Squalio business lines which remain unchanged.
Softline Global CEO Sergey Chernovolenko comments: “We are excited to have acquired Squalio as they have developed a dominant licensing business through first-class licensing expertise and certifications with key strategic vendors, such as Microsoft, Adobe, Oracle, IBM, Google and other cloud and security solutions leading players. As we continue to expand our presence in Eastern Europe and the Baltics through a strategy that balances acquisitions and organic growth, we are thrilled to have the opportunity to grow alongside Squalio in the coming years.”
Squalio CEO Sandis Kolomenskis comments: “Squalio’s mission is to partner with and guide individuals and companies towards a sustainable digital environment. By joining forces with Softline, another fast-growing tech company, we are confident that the expanded portfolio breadth, customer and market reach, and investment capacity will support us in achieving our goals.”
During Softline’s financial year of 2020, the company increased its international business share to 45% through both organic growth and M&A. In September 2020, the Group opened its headquarters in London, followed by acquisitions of the software development outsourcing business from Aplana Group, a controlling stake in the German company Softline AG, and Embee, an Indian IT company specialising in cloud services, software licensing, cybersecurity and system integration services.
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. Its 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 was near $2 billion US dollars with sales growth of 13.2%. Softline has offices in 55 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.
For more information, please visit www.softline.com
Squalio is an international data technology company founded in 1997 in Latvia. It has representative offices in ten countries around the world. The company is one of the leading partners of Microsoft Corporation in software licensing and cloud services. Over of course nearly 25-year experience, Squalio have established a proven track record of successful development and continued growth.
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