Ukrainian InSoft.Partners acquires a stake in Noltic. Its market cap now is $40M

The software development holding company InSoft.Partners has acquired a stake in the niche company Noltic, which focuses on salesforce. The parties have not disclosed the size and details of the deal. However, it is known that it was not a controlling stake.

Noltic as part of InSoft.Partners

  • Noltic was founded in December 2017. It is a consulting and development agency that offers a range of salesforce services. Noltic’s clients are mainly located in Europe and the United States. The company has offices in Lviv, Poltava, and Warsaw. According to the company’s website, the team consists of 70 specialists.

“We have been known with Igor and Vlad (Noltic’s founders) for about seven years, since our days at CoreValue. The guys have built a very successful niche company. And since then, we have invested a lot in building our own ecosystem, accumulating knowledge and skills in lead generation, and transforming the service business. Now, I hope, we will be able to combine all the experience we have gained to get 1+1>2. Moreover, we can already see positive results of the ecosystem approach in other companies,” says Vitalii Gorovoyi, founder of InSoft.Partners.

“We were looking for options for establishing a sales process. We have our own best practices, but we were planning to systematize this process in the course of growth. Our colleagues recommended Vitalii, who, among other things, had built lead generation at other companies. After several meetings, we realized that we had a common vision, and Vitalii would strengthen our team where we needed it most,” adds Noltic CEO and founder Igor Petrovych.

Exit from Artjoker and current valuation

  • InSoft.Partners is a niche player in the B2B service market. The company buys stakes in tech companies and then gets involved in their operations to help them grow. InSoft.Partners specializes in building an effective lead generation system, financial architecture, scaling companies, and conducting M&A transactions.
  • Since the beginning of the full-scale war, InSoft.Partners has invested in six IT companies: Inoxoft, Linkup Studio, Indeema Software, Artjoker, Forbytes, and Noltic.
  • InSoft.Partners has also reported that it exited Artjoker. The exit took place in favor of the founder Roman Katerynchyk. According to the holding company, the parties completed all the tasks agreed upon at the start of the cooperation and, following the agreements, carried out the buyback process.
  • With the latest changes, the total number of employees in the InSoft.Partners ecosystem is about 600 people, and the market capitalization, based on the company’s pessimistic estimate, is about $40 million. The current InSoft.Partners ecosystem includes five companies: Inoxoft, Linkup Studio, Indeema Software, Forbytes, and Noltic.
  • The holding’s completed projects include: Core Value (exit in the interests of OakTree Capital Management and further transformation into Avenga), ITernal Group (exit in the interests of UST Global), Artjoker, Cloudfreshucode IT academy.

In the spring of 2023, InSoft.Partners changed its business model. It is no longer an investment company that makes money on exits. Now it is Software Development Holding — InSoft.Partners has created a new outsourcing company of a holding type. Vitalii Gorovyi, the founder of InSoft.Partners, previously told AIN.UA more about this and the Ukrainian IT outsourcing market in general.