Noventiq closes Saga Group acquisition
London, February 2023
Noventiq (LSE: SFTL), the global digital transformation and cybersecurity solutions and services provider, announces today that the acquisition of the majority stake of Saga Group has been officially closed.
In September 2022, Noventiq signed an agreement to acquire Saga Group. The transaction strengthens Noventiq’s presence in Eastern Europe as well as opening other markets such as Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia.
Saga Group, and all its subsidiaries, will continue to operate under its existing brand while incorporating the ‘a Noventiq company’ into its logo. The group, which will maintain its headquarters in Belgrade, will also be retaining its employee base as well as continue being led by its current management team, and the President of Saga Supervisory Board, Dejan Popovic.
Now that the deal has been closed, the scope of support that Saga, and its subsidiaries, offers to its customers will expand thanks to Noventiq’s global position. The company will gain more international exposure as well as the access to Noventiq’s expanded portfolio thanks to its global partner relationships which include vendors like Adobe, Amazon Web Services (AWS), Citrix, Google Cloud Platform (GCP), Microsoft, among multiple others.
In the past, the company had a real support in Snezana Glavonjic, and her development path in Saga began in 2006, when the company entrusted it with the position of Head of Accounting, and then, after 10 years, the responsible position of CFO, as well as the leading role of a member Executive Board of the company.
Regarding her new role, Ms. Glavonjić said: „It is a great honor and pleasure, but more then al, a great responsibility to be at the helm of Saga. Saga is a very stable company, with a high credit rating and a low level of indebtedness. My focus will be to maintain continuity and stability, and to make Saga to be a reliable partner, in which employees, customers, partners, and everyone else will have a lot of confidence. We will always focus on promising projects and technological challenges and strive to bring all kinds of benefits to owners and employees. We will nurture the spirit of Saga, woven in previous years and decades, and our goal will be to constantly work on the satisfaction of our employees.“
About Noventiq
Noventiq 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+ organisations from all sectors with hundreds of best-in-class IT vendors, alongside its own services and solutions.
Noventiq – led by a highly qualified board of directors including Jacques Guers, Roy Harding, Igor Borovikov, Karl Robb, Marc Kasher, and Sergey Chernovolenko – reported a turnover of US$ 1.1 billion in the fiscal year of 2021, and is currently one of the fastest growing companies in the sector. In October 2021, company ‘Softline Holding plc’ received its primary listing on the London Stock Exchange (LSE:SFTL).
Noventiq’s 5,900 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe and Africa—markets with significant growth potential.
Additional information about the company can be found here.
