Softline significantly bolsters Middle East and Africa presence through acquisition of Seven Seas Technology, continuing to expand its global footprint
London, 30 June 2022 - Softline (LSE: SFTL), the global IT and digital transformation solutions provider, has today announced the signing of an agreement to acquire UAE-based Seven Seas Technology (SST). The acquisition represents a significant addition to Softline’s operations in the Middle East and Africa (MEA) region, and marks the latest in a string of M&As in line with the company’s three-dimensional growth strategy.
Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.
Established in 1983, Seven Seas Technology is a leading system integrator and Information and Communications Technology (ICT) solution provider in the UAE. In partnership with major technology vendors such as Microsoft, the company provides medium and large enterprises with collaborative, multi-cloud strategies. SST has 15 Gold competencies with Microsoft as well as several advanced specialisations, Platinum Cloud Solutions Provider status with HPE, Cisco Gold Integrator and others. This combination of partnerships together with an extensive services portfolio sets SST apart in the regional market. SST’s 300+ ICT trained and certified professionals serve large and medium businesses across a number of sectors including civil aviation, government, oil & gas, banking & finance, hospitality, healthcare, education and retail.
Through Softline’s acquisition, organisations in the region can now access an expanded portfolio of solutions and services, as well as Softline’s global talent base. This includes global relationships that Softline holds with multiple cloud providers, including Microsoft. Customers in the region can now rely on Softline’s managed services supported by its Global Delivery organisation and advanced MSP statuses from Microsoft and AWS, and on its advanced cybersecurity capabilities. Customers can also access the company’s software development and application modernization & engineering capability.
Roy Harding, Global CEO of the Softline Group said, “This acquisition represents a major development in our three-dimensional strategy that we outlined at our IPO as we are expanding our geographical footprint, and positions us as a leader for digital transformation services in the important MEA region. Our FY2021 results recently showed that we are delivering on our promises to shareholders. The acquisition of Seven Seas is another example of our excellent execution capability.”
Herve Tessler, CEO of Softline International commented on the acquisition, “Seven Seas Technology has a demonstrable track record of delivering innovative solutions and managed services in vertical industries, especially using solutions from our joint strategic technology partner Microsoft. The team’s expertise in these areas makes them a great fit with our goals as a global digital transformation solutions provider. The customers and talent in the region will certainly benefit from SST joining forces with such a global player as Softline.”
Nayagam Pillai, CEO of Seven Seas Technology, added, “We started out almost 40 years ago and have built a reputation in our home market for being able to innovate processes and increase overall productivity. Joining Softline presents a great opportunity for our team to apply that expertise to some very exciting projects in the region and beyond.”
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered in London. The company enables, facilitates and accelerates digital transformation for its customers’ businesses, connecting 150,000+ organizations from all sectors with 6,000+ best-in-class IT vendors, alongside its own services and solutions.
With a turnover of US$ 2.2 billion in the fiscal year of 2021, Softline is currently one of the fastest growing companies in the sector. In October 2021, the company got its primary listing on the London stock exchange (LSE:SFTL). Softline’s growth is underpinned by its three-dimensional strategy to expand its geography, portfolio and sales channels. The strategy is supported by Softline's active approach to M&As, enabling the company to take advantage of the ongoing consolidation in the industry. During the fiscal year of 2021, Softline has acquired several companies with annual turnover totalling approximately US$ 200 million, including five acquisitions that have been announced in the first six weeks of 2022.
Softline's 8400 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe, Middle East and Africa—markets with significant growth potential.
About Seven Seas Technology
Seven Seas Technology (SST) is one of the most important technology players in the United Arab Emirates. With over 39 years of experience and 300+ ICT trained and certified professionals, Seven Seas Technology has a wealth of expertise to deliver solutions designed to meet today’s business needs and allow for future growth.
Seven Seas Technology’s customers range from Large and Medium Enterprises across all vertical industries such as Aviation, Conglomerates, Government, Oil & Gas, Banking & Finance, Hospitality, Healthcare, Education and Retail.