SFTL.L Regulatory News (SFTL)

Softline Holding plc

("Softline" or the "Company")

Softline Holding plc begins trading under the brand name NOVENTIQ

London, 20 October 2022 - Softline Holding PLC [SFTL, US83407L2079] (Softline, the organisation, or the company), the Cyprus registered global IT and digital transformation solutions and services provider headquartered in London, today begins trading under the new brand name NOVENTIQ. As a $1bn+ player in the global digital transformation market, the rebranding signals the start of a new era for this rapidly evolving company.

The company operates in almost 60 countries globally, employs c. 3,900 people, and delivered turnover of $1.1bn with YoY growth of 51% in fiscal year 2021. The LSE-listed business just sold its Russian operations to founder, Igor Borovikov. The Russian business will now operate independently from NOVENTIQ.

Under the new brand, the company will continue on its mission to help organisations to transform and operate efficiently and securely in the increasingly digital economy.

NOVENTIQ´s portfolio consists of multi-cloud services, future workplace solutions, modern hybrid infrastructure, digital transformation (DX) and cybersecurity services, software provisioning and consultancy, software and application engendering and development. NOVENTIQ will continue to go forward as one of Microsoft's largest partners in emerging markets. The company will also further invest in strengthening its partnerships with industry-leading technology providers to deliver outstanding value to its 75,000 customers.

Sergey Chernovolenko, Chief Executive Officer at NOVENTIQ, said:

"It is exciting for me to introduce this new brand, under which we will continue to deliver immense value for our customers, employees and shareholders. We are launching NOVENTIQ with a laser-focus on growth and expansion of the business. With this new brand, we expect to cement our position as the leading provider of digital transformation and cybersecurity solutions and services for customers in emerging markets and beyond. This brand continues the values of Softline brand that were appreciated by all our customers, employees, partners and stakeholders and under which we achieved so much in the last few years.

"Although we operate in a digital world, people have always been at the core of what has made our business so successful. It is our people and our relationships with incredible technology partners which have allowed us to deliver stellar results for our customers. A priority for us will be to grow our teams in all our key markets as we continue to expand and capitalise on growth opportunities in numerous regions. I have absolutely no doubt that our path forward under the NOVENTIQ brand will offer the best future for all our stakeholders, and that those continued relationships will carry us through to ever greater success and prosperity together."

Jacques Guers, Chairman of the Board of Directors at NOVENTIQ, said:

"It's fantastic to see our business moving into a new era under the brand of NOVENTIQ. We are certain that this step will enable us to continue making a positive impact for an ever-increasing number of organisations around the world. The kind of impact we deliver is stitched into our very DNA. And, despite rebranding being a challenging process for our company to undertake, we know it is a worthwhile one, as it will allow us to continue to fulfil our purpose. We are excited to embark on this journey as NOVENTIQ for many years to come."

NOVENTIQ is the global brand of Softline Holding plc, and covers our core business for digital transformation, cybersecurity, and cloud solutions and services. This brand reflects changes in the technology industry over the last 20 years. Enterprises and organisations around the world require purposeful and intelligent innovation on demand to improve their business outcomes. The past 20 years have seen an explosion in software, as well as remarkable growth in cloud technology, the increasing importance of cybersecurity, and the proliferation of information technology into every corner of any modern organisation. 

NOVENTIQ. Global expertise, local outcomes

The new name NOVENTIQ represents an amalgamation of several things:

· NOV derives from the Latin word novus for 'new'. Innovation is essential for NOVENTIQ´s customers, vendors and employees.

· EN comes from entrepreneurial. It is the entrepreneurial spirit that everyone notices about this company. The never-ending quest for economic value and a 'can-do' attitude are what marks NOVENTIQ out from other companies in the industry. We are focused on serving enterprises around the world. EN is also energy, something that we bring to everything we do.

· T refers to technology, the company´s expertise, passion, and product. T also stands for transformation, an essential requirement for any enterprise looking to ensure a successful the future.

· IQ - stands for intelligence and quality - two key features that characterise a successful provider, one who can address highly complex problems for customers, and deliver intelligent information solutions which are of the highest quality.

NOVENTIQ also comes with a new motto: Global expertise, local outcomes. This underlines the organisation´s success. Constantly gaining expertise, and operating as a global player. Building competitive advantage thanks to global nature of our business. The slogan also emphasises the company´s focus on delivering for their customers wherever they are.

Notes to Editors

· The launch of this new brand follows the announcement made by Softline Holding plc (LSE: SFTL) on October 20th 2022, which confirms the sale of its Russian business to its founder, Igor Borovikov. From this date, the Russian business will operate independently from Softline Holding plc. [LINK]

· The names of the legal entities of Softline Holding plc. group are not changing with the introduction of the new brand of NOVENTIQ.

· NOVENTIQ will be led from its headquarters in London by a senior leadership team including CEO, Sergey Chernovolenko; President, Hervé Tessler; and CFO Burak Ozer (BIOS). The organisation will continue to be listed on the London Stock Exchange following its successful IPO in October 2021, which valued the original group at $1.5 billion at the time.

· In the past four months, we have announced three acquisitions - still in process, not closed - Seven Seas Technologies, Makronet, and Value Point System, which altogether will add around 1,500 people to NOVENTIQ´s current 3,900 employees, making it a company of c. 5,400 people.

About NOVENTIQ

NOVENTIQ is the new brand name of Softline Holding plc, one of the fastest growing players in the sector. It is a leading global solutions and services provider in digital transformation and cyber-security, headquartered in London. Under this brand, the company enables, facilitates and accelerates the digital transformation of its customers' businesses, connecting over 75,000 organisations from all industries with hundreds of best-in-class IT vendors, and delivering its own services and solutions. 

The company delivered turnover of approximately US$1.1 billion in the fiscal year of 2021. It is listed on the London Stock Exchange upon its successful IPO in October 2021.

The company´s c. 3,900 employees, work in almost 60 countries throughout Asia, Latin America, Eastern Europe, Middle East and Africa - markets with significant growth potential.