Digital Transformation Major’s 4th Acquisition
Noventiq offers multi-cloud solutions, software, cybersecurity and infrastructure.
NEW DELHI, Dec 17 (The CONNECT) – LSE-listed Noventiq, a global digital transformation and cybersecurity solutions and services provider, announced the signing of an agreement to acquire one of India’s principal Microsoft partners, G7 CR Technologies India Pvt Ltd. This acquisition strengthens Noventiq’s place as the leading player in the market for Microsoft solutions in India, one of the world’s fastest growing IT markets.
Noventiq (the brandname of Cyprus-registered Softline Holding plc) is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered and listed in London. The company enables, facilitates and accelerates digital transformation for its customers’ businesses, connecting 75,000+ organizations from all sectors with hundreds of best-in-class IT vendors, alongside its own services and solutions.
With a turnover of US$ 1.1 billion in the fiscal year of 2021, Noventiq is currently one of the fastest growing companies in the sector.
G7 CR, which currently works with over 600 customers from the SME, enterprise, government, and start-up sectors across India, will bring 200 excellent professionals to Noventiq’s family.
Headquartered in Bengaluru, G7 CR Technologies was founded in 2012. Since the beginning, the company has focused on providing primarily Microsoft Azure-based solutions and services as well as Microsoft products. In addition to this, G7 CR is a Microsoft Solution partner for Data & AI, Infrastructure, Digital & App Innovation, Modern Work & Security. G7 CR has received Microsoft’s Country Partner of the Year Awards in 2019 and 2020. G7 CR also has a strong presence in the Middle East which complements Noventiq’s growth strategy in that region.
The transaction follows a series of acquisitions made by Noventiq in India in the past two years; Value Point Systems, which was announced in October 2022, Umbrella Infocare, acquired in February 2022, and Embee, acquired in January 2021. All these companies, together with G7 CR, complement Noventiq´s capabilities to deliver the most modern set of solutions and services to customers of all types in this dynamic market – from large Indian global corporations to digital-natives born in the cloud. This set of offerings includes multi-cloud solutions, software, cybersecurity and infrastructure.
Sergey Chernovolenko, CEO at Noventiq, said the deal is the company’s fourth acquisition in this country. Noventiq’s goal is to have a $1Bn business in India in the mid-term, and thanks to the incorporation of successful organisations like G7 CR, this goal will become a reality soon, he said.
Christopher Richard, Managing Director and Founder, G7 CR Technologies India Pvt Ltd, said “We are very proud to have captured the eye of Noventiq’s leadership team”.
Noventiq’s global scale and G7CR’s technology skills combined will enable G7 CR to provide a wider solution offering, and deeper tech engagements, to its existing and future customers, Richard said.