Noventiq

Noventiq is an international information-technology company that provides software, cloud, cybersecurity, infrastructure, consulting, and digital-transformation services. The business was founded in Moscow in 1993 as Softline, initially supplying scientific software, and later developed into a broad technology partner and systems integrator serving enterprise, public-sector, and other institutional customers. It subsequently traded under the corporate identity Softline Holding plc before adopting the Noventiq name in 2022. The company’s early development was closely associated with software distribution and vendor partnerships. Over time, its portfolio expanded beyond resale to include implementation, technical support, managed services, outsourcing, IT audits, enterprise-resource-planning work, and consulting around Microsoft Dynamics and SAP. Its partner ecosystem included Microsoft, Symantec, IBM, and hundreds of other technology vendors. This combination of distribution and professional services allowed the company to participate in customers’ wider technology projects rather than relying only on individual software transactions. From the early 2000s, Softline broadened its geographic presence through representative offices in Russian and Commonwealth of Independent States markets. Beginning in 2008, it accelerated international expansion beyond the CIS and eventually developed operations across Europe, Asia, India, Latin America, and the Middle East. India became an important market after the opening of a subsidiary in 2014. The company also established a venture-investment arm in 2009 and later built a dedicated mergers-and-acquisitions function in Moscow and London. Growth was supported by acquisitions and outside investment. Da Vinci Capital invested in the company in 2016, and the M&A program subsequently added businesses involved in software development, consulting, cybersecurity, cloud, and technology services. Acquisitions mentioned in company history include Embee in India, Aplana, Softline AG, Academy IT, Softclub, Belitsoft, MMTR Technology, Umbrella Infocare, Seven Seas Technology, Makronet, Value Point Systems, Saga Group, and G7CR. These transactions expanded both the company’s capabilities and its presence in specific regional markets. Softline moved its headquarters to London in 2020 and reported annual revenue above 1.8 billion US dollars for that year. It completed an initial public offering of global depositary receipts on the London Stock Exchange in October 2021. Following Russia’s invasion of Ukraine in 2022, the group ceased operating in Russia and sold its Russian assets to founder Igor Borovikov. The international business announced a rebrand to Noventiq at the same time, separating its identity from the divested Russian operation. Borovikov later sold Softline Russia to a local investor in April 2023 and resigned from Noventiq management. Noventiq’s business model centers on helping organizations acquire, deploy, secure, modernize, and manage technology. Its activities span cloud adoption, cybersecurity, data and analytics, enterprise applications, infrastructure, software licensing, digital workplace services, and IT outsourcing. The company’s geographic footprint and vendor relationships position it as a regional and international technology integrator rather than as a consumer-facing software brand. Its capital-markets history changed in 2023 when it announced the cancellation of its London Stock Exchange GDR listing and separately announced a proposed business combination with Corner Growth Acquisition Corp. to pursue a Nasdaq listing.

Noventiq traces its origins to Softline, founded in Moscow in 1993 by Igor Borovikov as a supplier of scientific software. The company initially operated primarily as a software provider and distributor, but its technology-partner network grew to include major vendors such as Microsoft, Symantec, and IBM. This vendor-led model gave Softline access to a broad range of enterprise products while allowing it to develop implementation and support capabilities around them. During the early 2000s, Softline expanded through representative offices in Russian and CIS cities. Its offering became more service-oriented, adding IT outsourcing, auditing, SAP consulting, and Microsoft Dynamics consulting. In 2008, the company began extending its reach beyond the CIS and built an international presence across more than 30 countries outside the region. It also created a venture-investment arm in 2009, reflecting an interest in technology businesses beyond its core distribution operations. India became a significant part of the international expansion, with a subsidiary opened in 2014. In 2016, Da Vinci Capital invested in the company. That year also saw the creation of an M&A team based in Moscow and London, supporting a series of acquisitions intended to expand geographic coverage and add capabilities in software development, consulting, cloud, infrastructure, and managed services. The acquisition program included Embee in India, Aplana, and the German consulting company Softline AG in 2020. In 2022, Softline acquired or invested in a number of additional businesses, including Academy IT, a majority stake in Softclub, Belitsoft, MMTR Technology, Umbrella Infocare, Seven Seas Technology, Makronet, Value Point Systems, Saga Group, and G7CR. These transactions helped turn the company from a conventional software distributor into a multi-country IT-services and digital-transformation group. Softline relocated its headquarters to London in 2020. The company reported revenue above 1.8 billion US dollars for that year and completed an initial public offering of global depositary receipts on the London Stock Exchange in October 2021. Its international structure and capital-markets profile changed sharply after Russia’s invasion of Ukraine. In October 2022, the group ceased operations in Russia and sold its Russian assets to founder Igor Borovikov. The continuing international business announced that it would operate under the Noventiq name. The separation from the Russian business continued in 2023, when Borovikov sold Softline Russia to a local investor and left Noventiq management. In May 2023, Noventiq announced a proposed business combination with Corner Growth Acquisition Corp. to pursue a Nasdaq listing. In July 2023, it announced the cancellation of its London Stock Exchange GDR listing. The company’s documented business scope remains centered on enterprise technology: software and cloud procurement, cybersecurity, infrastructure, systems integration, digital transformation, enterprise applications, outsourcing, and managed services across a wide international market.

• 2023

  Proposed Nasdaq transaction and London listing cancellation

  [1]Noventiqen.wikipedia.org

  Noventiq announced a proposed combination with Corner Growth Acquisition Corp. and later announced cancellation of its London Stock Exchange GDR listing.

• 2022

  Russian operations divested and international business rebranded

  [1]Noventiqen.wikipedia.org

  The group ceased operations in Russia, sold its Russian assets to Igor Borovikov, and announced the Noventiq identity for the continuing international business.

• 2021

  London Stock Exchange IPO

  [1]Noventiqen.wikipedia.org

  Softline completed an initial public offering of global depositary receipts on the London Stock Exchange.

• 2020

  Headquarters move and major acquisitions

  [1]Noventiqen.wikipedia.org

  Softline relocated its headquarters to London, acquired Embee, Aplana, and Softline AG, and reported annual revenue above 1.8 billion US dollars.

• 2016

  Da Vinci Capital investment and M&A capability

  [1]Noventiqen.wikipedia.org

  Da Vinci Capital invested in Softline, and the company established an M&A team operating from Moscow and London.

• 2014

  Indian subsidiary opens

  [1]Noventiqen.wikipedia.org

  Softline opened a subsidiary in India, strengthening its position in the South Asian technology market.

• 2009

  Venture-investment arm launches

  [1]Noventiqen.wikipedia.org

  Softline established a venture-investment arm as part of its broader technology-business development activities.

• 2008

  Expansion beyond the CIS

  [1]Noventiqen.wikipedia.org

  The company accelerated its international growth and expanded to more than 30 countries outside the CIS over the following period.

• 2002

  Regional expansion begins

  [1]Noventiqen.wikipedia.org

  Softline began expanding through representative offices in Russian and CIS cities, broadening its regional distribution and services footprint.

• 1993

  Softline is founded in Moscow

  [1]Noventiqen.wikipedia.org

  Igor Borovikov founded Softline as a supplier of scientific software, establishing the business that later became Noventiq.

An international technology partner and systems integrator combining multi-vendor software and hardware distribution with consulting, cloud, cybersecurity, implementation, and managed services.

• Software distribution · 1993

  Enterprise software and licensing

  Noventiq’s historical foundation is the supply and distribution of enterprise and scientific software. The company works with multiple technology vendors and supports customers with licensing, procurement, deployment, renewal, and related technical services. Its vendor ecosystem has included Microsoft, Symantec, IBM, and many other software and infrastructure providers.

• Cloud and IT infrastructure

  Cloud and infrastructure services

  The company provides cloud-related and infrastructure-oriented services associated with digital transformation. These activities include technology selection, migration, integration, implementation, support, and managed operation of enterprise computing environments.

• Cybersecurity

  Cybersecurity solutions

  Cybersecurity is one of Noventiq’s stated focus areas. Its role is principally that of a technology partner and integrator, combining security products from vendors with consulting, implementation, monitoring, support, and broader risk-management services.

• Consulting and systems integration

  Digital-transformation consulting

  Noventiq helps organizations plan and implement technology modernization programs. The consulting scope described for the group includes enterprise applications, systems integration, IT audits, business-process technology, cloud adoption, and modernization of infrastructure and workplaces.

• Managed services

  Managed IT and outsourcing services

  The business expanded into IT outsourcing, technical support, and managed services as it moved beyond software distribution. These services are intended to help customers operate and maintain technology environments over time rather than simply purchase individual products.

• 2023

  Proposed business combination with Corner Growth Acquisition Corp.M&A

  Background

  Noventiq sought a new public-market route after its earlier London Stock Exchange listing and the restructuring of its international business.

  Action taken

  The company signed a business combination agreement with Corner Growth Acquisition Corp. with the stated objective of achieving a Nasdaq listing.

  Aftermath

  The proposed transaction was followed in July 2023 by an announcement that Noventiq’s London Stock Exchange GDR listing would be cancelled. The supplied reference does not establish the final outcome of the proposed Nasdaq transaction.

  Source

• 2023

  Cancellation of London Stock Exchange GDR listingOther

  Background

  Following the company’s corporate restructuring and proposed alternative listing route, Noventiq reviewed the status of its London-listed global depositary receipts.

  Action taken

  Noventiq announced the cancellation of the listing of its GDRs on the London Stock Exchange.

  Aftermath

  The cancellation ended the company’s documented London Stock Exchange listing; the supplied reference does not provide further trading or ownership details.

  Source

• 2022

  Separation from the Russian business and Noventiq rebrandStrategy

  Background

  After Russia’s invasion of Ukraine, the international Softline group faced the need to separate its continuing international operations from its Russian business.

  Action taken

  The company ceased operations in Russia, sold its Russian assets to founder Igor Borovikov, and announced that the international business would operate under the Noventiq name.

  Aftermath

  The transaction and rebrand created a distinct international identity, while the divested Russian operation continued separately under the Softline name.

  Source

1. 1Noventiqen.wikipedia.org