DigiTech

DigiTech is an Egyptian consulting company specializing in digital business transformation projects. Such a company provides services for transferring applications and data to the cloud and develops various enterprise IT solutions.

History

2021: Softline bought a stake in DigiTech

On September 21, 2021, Softline announced the purchase of a stake in DigiTech. Financial details of the transaction are not named.

According to Interfax, citing a statement by Softline, the acquisition DigiTech made with the aim of creating a joint venture that will unite the competencies of partners.

Softline acquired a stake in DigiTech

Even before the deal with DigiTech, Softline was present in the Egyptian market. Okay, she has an office in New Cairo. In addition to Egypt, the Russian IT integrator is present in the markets of Russia, Europe, the USA, India, as well as in a number of countries in Eastern Europe, Latin America and Southeast Asia.

This is not the company's first purchase for Softline in 2021 - in January Softline bought Indian Embee, but in April completed the purchase of a controlling stake in German Softline AG. In addition to acquiring assets, Softline is considering the option of global development using an IPO.

Today we see significant potential for further value creation based on the global presence of Softline and are considering various opportunities for strategic development, including through the potential placement of the company's shares on the stock exchange (IPO), "said Igor Borovikov, head of the company's board of directors, in May 2021.[1]

According to him, the funds raised under the listing will allow the company to "continue to invest in the provision of IT solutions and services to customers." He also added that Softline uses this money to develop and implement its growth strategy. It is assumed that part of the funds will go to new acquisitions in the market.

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