Noventiq acquires majority stake in Serbian IT company Saga Group
Global digital transformation and cybersecurity solutions provider Noventiq announced the acquiring the majority stake in Serbian IT company Saga Group. The deal will allow bringing over 400 expert staff to Noventiq, and to expand expertise from Saga’s and its IP customer base worldwide.
- Established in 1989, the Belgrad-based Saga Group is one of the leading system integrators in Bulgaria that provides ICT professional services and business solution in infrastructure, telecommunications, virtualization, business computing, data centers, client desktop solutions, social collaboration, electronic banking, contact center, multichannel access systems, mobile offices fields.
- Saga Group operates in Serbia, Montenegro, Macedonia, and Bosnia and Herzegovina, and has over 400 employees. The company has also built a portfolio of digital products, including its own IP for digital banking, Fintense, created by Saga’s subsidiary NF Innova, which is an omnichannel digital banking platform.
- Among Saga’s partners there are such companies as Oracle, Cisco, DELL, Hewlett Packard Enterprise, Juniper, VMWare.
- Noventiq, previously known as Softline Holding, is the London-based solutions and services provider in digital transformation and cybersecurity. The company enables, facilitates and accelerates digital transformation for its customers’ businesses, connecting over 75,000 organizations from all sectors.
- The company has 3,900 employees, work in almost 60 countries throughout Asia, Latin America, Europe, Middle East and Africa. The company delivered turnover of approximately US$1.1 billion in the fiscal year of 2021. It is listed on the London Stock Exchange following its successful IPO in October 2021.
- According to the transaction, Noventiq brings over 400 expert staff for its further acceleration, and strengthening its operations and competences in digital infrastructure, managed solutions and services in Central and Eastern Europe.
“Saga’s fintech solutions are about transforming legacy banks and institutions into digital leaders, and thanks to this transaction, our customers from a wide array of sectors will be able to benefit from Saga’s extraordinary technology,”Herve Tessler, president and COO of Noventiq said.
- With this acquisition, Saga Group’s customers will have access to full Noventiq’s solutions and services.