11 Oct 2022 11:49
The following amendment has been made to the Softline to acquire Value Point Systems (India) announcement originally released at 12:09 on 10 October 2022 under RNS No. 3614C.
The following amendment has been made to the first sentence of the sixth paragraph: 'Value Point Systems constitutes the fifth acquisition outside the original market made by our company in 2022.' All other details remain unchanged. The full amended announcement is set out below.
Softline Holding plc
("Softline" or the "Company")
Softline reinforces its business footprint in India with acquisition of cybersecurity and digital transformation leader Value Point Systems
London, 10 October 2022 - Softline (LSE: SFTL), the global IT and digital transformation solutions and services provider, today announces the signing of an agreement to acquire Indian digital infrastructure and cybersecurity solutions & services company Value Point Systems.
The transaction further strengthens Softline´s business operations and capabilities in cybersecurity, digital infrastructure, managed solutions and services in India. Because of this acquisition, which embodies Softline´s strategy and vision for India of "investing in India for India", Value Point System´s 2,000 local customers will now have access to Softline´s full portfolio of solutions and services.
With over 30 years´ experience, Value Point Systems is growing thanks to over 1,200 employees distributed in seven offices across the country. The company has become a leading end-to-end next generation digital infrastructure and cybersecurity solutions provider in India with technology partners such as AWS, Cisco, CrowdStrike, Hewlett Packard Enterprise, HP, Microsoft, VMWare, Zscaler, among others. Throughout the years, Value Point Systems has built a portfolio which today includes six end-to-end solutions and services: cybersecurity, data centre modernisation, network transformation, cloud transformation, digital workplace, and IT managed services. These solutions will completement Softline's own portfolio.
Specifically, once the acquisition of Value Point Systems is completed, Softline will strengthen its global cybersecurity proposition with the capabilities of VPS' Security Operation Centre, one of the industry's leading in India. Value Point Systems' cybersecurity integration capabilities, and sophisticated cybersecurity consultancy offering, will augment Softline´s existing services.
Additionally, Value Point Systems will bring more than 800 highly skilled digital engineers to Softline´s team. These professionals will continue to deliver excellent digital infrastructure management and transformation services to customers in India augmenting what is now being done by Softline´s team.
Vinod Nair, VP of Global Sales, General Manager for Softline India, commented: "According to a recent report by NTT, 96.3% of businesses in India see cloud as something critical to transforming their business. Today, there are 1.48 million* companies in India who are the at the cusp of adopting cloud or implement advanced cybersecurity solutions to protect their assets. As a leading solutions provider in India, Softline plans to help them choose the right digital and cybersecurity solutions in their quest to become more successful by adding efficiency, speed, security and simplicity to their daily work. Thanks to the acquisition of Value Point Systems, Softline will now be able to complement its portfolio of cloud and cybersecurity solutions, as well as its IT management services workforce. We are bringing in a company with over 30 years' experience in the market, and a value set that is accretive for our customers besides helping us reinforce our local footprint in India."
Hervé Tessler, CEO at Softline International, said: "Value Point Systems constitutes the fifth acquisition outside the original market made by our company in 2022, accelerating the three-dimensional growth strategy that we announced at our last year´s IPO. We invest in India for India, and our goal is to make our subsidiary in India a $1billion business thanks to the rapid organic growth and to the success of companies like Value Point Systems. In addition to great digital infrastructure solutions, IT managed services, cybersecurity and other services, we are also adding an incredible team of 1,200 people to Softline´s family bringing our Indian presence to more than 2,200 people. We are very excited to welcome Value Point Systems´ colleagues onboard, and I am sure that by joining our workforce, alongside the teams from Embee and Umbrella Infocare, we will build together a true multi-cloud digital Indian market leader; a prime technology partner for any Indian company that aspires to digitally transform to accelerate and increase revenues and acquire operational excellence."
RS Shanbhag, Founder, Chairman and CEO at Value Point Systems, commented: "We are truly excited to become part of Softline, a global company with presence in almost 60 countries around the world. Thanks to this new step in our company´s journey, we will now be able to grow beyond our highest expectations, and will also have access to the world´s top vendors solutions and services and to Softline's own portfolio which will enable our teams to offer an even better and wider range to our customers. Building this company was a real challenge, an exciting process, and I am really grateful to Softline´s team for welcoming us with open arms. I look forward to seeing what´s next in our successful future together in India and beyond."
Media contact
Rocio Herraiz
Head of Global Communications at Softline
rocio.herraiz@softline.com
Eve Frayling
Pagefield PR agency
softline@pagefield.co.uk
+44 (0)7896 540438
About Softline
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered in London. The company enables, facilitates and accelerates digital transformation for its customers' businesses, connecting 150,000+ organizations from all sectors with 6,000+ best-in-class IT vendors, alongside its own services and solutions.
With a turnover of US$ 2.2 billion in the fiscal year of 2021, Softline is currently one of the fastest growing companies in the sector. In October 2021, the company got its primary listing on the London stock exchange (LSE: SFTL). Softline's growth is underpinned by its three-dimensional strategy to expand its geography, portfolio and sales channels. The strategy is supported by Softline's active approach to M&As, enabling the company to take advantage of the ongoing consolidation in the industry. During the fiscal year of 2021, Softline has acquired several companies with annual turnover totalling approximately US$ 200 million, including five acquisitions that have been announced in the first six weeks of 2022.
Softline's 8,400 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe, Middle East and Africa-markets with significant growth potential.
About Value Point Systems
Value Point Systems works to accelerate its customers' business transformation journey through their competence in consulting, digital integration and security, delivering next-gen digital infrastructure technologies, solutions and services.
The company collaborates with trusted IT partners to deliver outstanding results through their portfolio services, helping organisations in India to digitally transform their businesses to enhance revenue, profitability, business outcomes and customer experience.
*Statista: As of June 2022, there were over 1.48 million registered companies in India.
*Economic Times of India - NTT report - About 89% of businesses in India said that the pandemic has forced them to rely on technology more than ever, according to NTT's 2021 Hybrid Cloud Report