This is technology M&A deal number 38 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Noventiq Acquires DigiTech
Noventiq was previously known as Softline Holdings but changed its name in October 2022. The company is based in London, England, and has 941 employees listed on LinkedIn. Noventiq’s areas of expertise include digital transformation, cybersecurity, information management, modern hybrid infrastructure, multi-cloud solutions, future workplace solutions, software engineering, software development, emerging markets IT and IT consultant.
DigiTech is based in Cairo, Egypt. The company has 73 employees listed on LinkedIn. DigiTech’s areas of expertise include digital transformation, with special attention paid to clients in the business sector.
DigiTech is one of the leading and fastest-growing Microsoft partners in Egypt with both Microsoft Cloud Solution Provider (CSP) and Licensing Solution Provider (LSP) status. Its expertise includes cloud services, particularly Azure computing and M365. Noventiq was attracted to DigiTech’s high profitability, cash generation, and substantial network of public sector and commercial customers, according to the company.
Through this acquisition, DigiTech has access to Noventiq’s global solutions and services portfolio covering security, infrastructure, virtualization, and other global vendors which will help the Egyptian company to diversify its technology offerings around multi-cloud and modern workplace solutions, the company said.
Noventiq says its Egypt-based team will join forces with DigiTech, becoming one unified entity for the Egyptian market, operating under the brand of “DigiTech, a Noventiq company.” DigiTech, which will continue to be headquartered in Cairo, will also be retaining its employee base, the company said.
Mohamed Mostafa, DigiTech’s CEO, will continue to lead the company. DigiTech says it has also appointed Noventiq’s president and COO, Hervé Tessler, to be the chairman of their board of directors.
Noventiq Acquires Digitech: Executive Insight
Hervé Tessler, president and COO, Noventiq, commented:
“I am very excited to be part of the Board of Directors at DigiTech, an excellent company with an enormous potential for growth within Egypt and beyond. By welcoming DigiTech’s pool of talent, we are also getting outstanding professionals with brilliant IT skills and capabilities that will complement our own. Noventiq will also benefit from DigiTech’s market leading position and their world-class portfolio business which includes IT services and solutions, such as licensing, cloud, security, access management and infrastructure management to customers spanning several industries. Through this acquisition, Noventiq is fulfilling on its three-dimensional growth strategy to expand its geography, portfolio and sales channel capabilities."
Atul Ahuja, senior vice president of Middle East, Africa and Asia at Noventiq, said:
“With DigiTech becoming a Noventiq company, we are very excited to deliver our global expertise with local outcomes. MEA as a fast-growing region, and Egypt in particular is a very strategic market for Noventiq as it´s our first footprint in the African continent. We are very confident to offer our global capabilities in cloud, managed services, and cyber security; driving innovation and digital transformation for to Egyptian enterprises, government, and the tech community."
Mohamed Mostafa, CEO, DigiTech, a Noventiq company, added:
“Noventiq is a leading global IT provider which will not only enrich our portfolio of solutions and services, but also help us expand beyond our own frontiers building an extraordinary future for all of our teams and customers. We are very much looking forward to welcome Noventiq Egypt’s team to our offices here in Cairo, and are grateful to Herve Tessler, Noventiq’s president and COO for joining our Board of Directors, supporting our own growth and business strategy.”