Russian Softline pursues international expansion in Baltic states, Belarus, Egypt

Russian Softline pursues international expansion in Baltic states, Belarus, Egypt
Russian online solutions firm Softline continues rapidly internationalising its business with expansion into Belarus, the Baltics and Egypt
By East West Digital News in Moscow September 23, 2021

Softline, an international solution and service provider with Russian roots, is pursuing its international expansion with two deals announced this month, reports East-West Digital News (EWDN).

The group announced it had acquired the licensing business of Squalio, an international data technology company, in the Baltic states (Estonia, Latvia and Lithuania) and Belarus. Founded in 1997 in Latvia, Squalio has representative offices in ten countries around the world.

“We are excited to have acquired Squalio, as they have developed a dominant licensing business through first-class licensing expertise and certifications with key strategic vendors, such as Microsoft, Adobe, Oracle, IBM, Google and other cloud and security solutions leading players,” stated Softline Global CEO Sergey Chernovolenko.

“As we continue to expand our presence in Eastern Europe and the Baltics through a strategy that balances acquisitions and organic growth, we are thrilled to have the opportunity to grow alongside Squalio in the coming years,” he added.

Softline has also announced the creation of a joint venture with Egyptian DigiTech. This digital transformation company serves customers in a variety of industries with a focus on cloud design, professional and managed services. Softline sees in Egypt “an attractive, fast-growing market and a strategic foothold in the Middle East.”

Founded in Russia in 1993, Softline is now an international group with offices in 55 countries and 95 cities – mostly in Eastern Europe, the Americas and Asia. Its offering focuses on digital transformation, cloud services and cybersecurity. In 2020, the group’s consolidated turnover neared $2bn, up 13.2% year on year.

That same year, the company moved its headquarters from Moscow to London, while the share of its international business reached 45%. Softline acquired controlling stakes in German eponymous company Softline AG and in Embee, an Indian IT company specialising in cloud services, software licensing, cybersecurity and system integration services. Softline also bought the software development outsourcing business of Aplana Group, a Russian company.  

This article first appeared in East-West Digital News (EWDN), a bne IntelliNews partner publication.

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