Noventiq Holdings PLC is leading a provider of digital transformation and cybersecurity solutions and services, globally. The company, which is headquartered in London, is all set to move its public listing from the London Stock Exchange to the Nasdaq through a business combination with Corner Growth Acquisition Corp. (NASDAQ: COOL).
In an email conversation with AlphaStreet, Noventiq’s chief executive officer Hervé Tessler spoke about the company’s mission and latest trends in the industry. Here is the full interview:
Can you give a brief overview of the company and its operations?
Noventiq is at the forefront of digital transformation and cybersecurity, offering a comprehensive suite of solutions and services designed to improve operational efficiency and security. With our global headquarters in London, we are present in 60 countries, focusing primarily on emerging markets across EMEA, LATAM, and APAC regions. I think it is important to highlight India as it is a market that stands out as our largest operational base. We have acquired four companies in India over the past three years, expanding our portfolio of capabilities and talent pool in the country and worldwide.
Our expertise extends to multi-cloud, data & AI, and cybersecurity solutions and services, aligning with our mission to drive growth and efficiency for organizations within the burgeoning global IT ecosystem we work in which is estimated to grow to $5.3 trillion in 2025. At Noventiq, we partner with the world’s leading technology vendors, including Microsoft, AWS, and Google. This enables us to offer, implement, and manage cutting-edge technologies that propel companies in emerging markets toward achieving their strategic goals.
Over the past two years, we have witnessed very strong business growth, including geographic expansion with Noventiq opening operations in new markets including Singapore, Indonesia, Bolivia, Mexico, Dubai, Oman, and Saudi Arabia; as well as capabilities and talent expansion through the nine acquisitions we have made since January 2022. This strong growth continued in the first half of FY24, where we reported revenue of $220 million, up 41% year-over-year in constant currency. This growth was especially pronounced in the APAC and EMEA regions, where revenues grew 96% and 45%, respectively. Our goal is to continue on this path, and based on our outlook for FY24 to 31 March 2024, we expect to double the size of our revenue.
How significant is the US listing, and what are the key benefits of moving to Nasdaq?
The decision to list Noventiq on the Nasdaq is a strategic move aimed at bringing value to our company, including our employees, customers, partners, and shareholders. Nasdaq’s reputation for nurturing technology and innovation-driven companies aligns perfectly with our vision and operational focus. This stock exchange is renowned for attracting a broad spectrum of investors with a keen interest in sectors where we excel, offering us much-improved access to capital.
A Nasdaq listing positions the company as a conduit for investors looking to tap into the emerging markets’ potential. Our extensive local expertise, underpinned by experienced teams and leaders, offers a compelling proposition for investors seeking exposure to these dynamic markets through a London-based, US-listed entity. Our operations span 60 emerging markets, presenting unique growth opportunities that are attractive to investors. Noventiq has already established a strong presence and business reputation in these markets, along with a proven history of growth.
Beyond financial considerations, this move is deeply aligned with our commitment to fostering a vibrant and growth-oriented work environment for our employees. Being part of a Nasdaq-listed company not only enhances our brand’s prestige but also bolsters employee engagement and commitment by associating their work with a globally recognized and respected marketplace.
Can you give insights into your partnerships with top technology companies, including Microsoft and Google?
Noventiq’s partnerships with leading technology firms like Microsoft, AWS, and Google underscore our role as a pivotal bridge between vendors and customers, driving the digital transformation journey. Our collaborations are built on integrating top-tier technology with our own IP solutions and services, aiming to navigate the complexities of digital advancements successfully.
We pride ourselves on being trusted by notable organizations, particularly Microsoft and AWS which rely on partners like us to penetrate emerging markets. Our relationship with Microsoft is a testament to our capabilities, spanning over 25 years and making us one of the few globally managed partners. This partnership is characterized by a strategic alignment allowing us to access Microsoft’s technology suite, including advancements in AI such as Copilot, and other Open AI offerings.
Our commitment extends beyond single-vendor solutions, as we strive to remain technology-agnostic, especially in areas like MultiCloud and Workplace Services. We are one of a small number of AWS partners that are part of a Global Strategic Collaboration framework with joint investment and accelerated growth objectives. Our strong footprint in the financial services sector is powered by our own innovative IP solutions, Fintense and Weaver AI, alongside our managed services. We also enhance our offerings through our vendor offerings from Microsoft, AWS, and Google, among others.
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What are the main challenges Noventiq faces, and how do you plan to address them?
One key area is navigating the diverse landscape of 60 different countries, each with its unique regulations, cultures, and languages. This complexity could easily become an obstacle, yet it is our exceptional talent pool across these markets that enables us to not just manage these challenges but exceed expectations. Our teams are adept at embracing local nuances to deliver solutions that resonate on a global scale.
Moreover, in the ever-evolving sector of technology, the imperative to innovate remains crucial. Our commitment to offering best-in-class solutions and services is not merely a response to a challenge but a principle that drives our growth and keeps us at the forefront of digital transformation. This ethos of innovation traces back to our inception 30 years ago, when our primary challenge was advocating for the digital revolution. Today, the conversation has advanced. The task now is not only about digitalization but integrating cutting-edge technologies like AI to enhance customer experiences, boost employee productivity, and streamline cost-efficient processes.
Furthermore, cybersecurity emerges as a critical frontier, especially in emerging markets. While developed nations have broadly recognized its importance, advocating for robust cybersecurity measures in less mature markets requires a different approach. It is here that our team truly shines, forging strong customer relationships and earning trust through demonstrated expertise and integrity.
What emerging trends or opportunities do you see in the industry, and how is Noventiq positioned to capitalize on them?
Seeing the world light up with artificial intelligence (AI) innovations, from our very own Weaver to the wonders of Microsoft’s Copilot, feels a bit like watching the future unfold in real time. There’s a buzz around AI – it’s palpable.
At Noventiq, we are active participants and innovators. Our own Weaver AI solution, alongside partnerships with industry leaders like Microsoft, and its AI solution Copilot, exemplifies our commitment to pioneering AI technologies. This positions us at the forefront of a movement where businesses – while perhaps not yet ready to fully implement these technologies or at least not all of them – are eager to explore their potential and understand the prerequisites for integration.
Great examples of our journey come from the successfully executed projects where we’ve rolled out AI solutions for customers in varied markets such as Chile, Malaysia, and India, showcasing our ability to deploy AI technologies worldwide.
Not long ago, I read an article by Deloitte Chief Futurist Mike Bechtel who said that “with generative AI as a force multiplier for imagination, the future belongs to those who ask better questions and have more exciting ideas to amplify.” I want to believe that we at Noventiq are those asking the smartest questions to ourselves, to our vendor solutions providers, and even to our own engineers and developers, about how to use AI, and other modern technologies, in the most efficient way so that we can better serve our customers to be faster, cost-efficient, and productive.
