Noventiq Announces Strategic Joint Venture with Net One Asia in Singapore

Rhea-AI Summary

Noventiq Holdings PLC announces a strategic joint venture with Net One Asia in Singapore, focusing on cybersecurity and Microsoft technology solutions. The partnership aims to accelerate Noventiq's presence in Singapore and the APAC region, leveraging the strengths of both companies. The joint venture, operating as Noventiq Singapore Pte , will offer a wide range of Microsoft technologies and solutions, including Noventiq's proprietary IPs. The collaboration is expected to drive growth and innovation in the market, creating new job opportunities and expanding into other partners' solutions. Additionally, Noventiq's business combination agreement with Corner Growth Acquisition Corp. is set to list the combined company on Nasdaq under the symbol 'NVIQ', providing improved access to capital and enhancing technological capabilities.

Insights

Cybersecurity Expert

The strategic joint venture between Noventiq and Net One Asia is a significant development for both entities, particularly in the context of cybersecurity. The collaboration is poised to enhance Noventiq's cybersecurity capabilities by integrating advanced Microsoft technologies and their own proprietary solutions like Weaver AI, Fintense and Selecta. The synergy between Noventiq's global partnership with Microsoft and Net One Asia's local market acumen could potentially result in a fortified security posture for organizations in Singapore and the broader APAC region.

From a cybersecurity standpoint, the introduction of these advanced solutions and the focus on Data&AI is timely, considering the increasing cyber threats in the region. This venture could see a boost in the adoption of cutting-edge cybersecurity measures, which is essential for protecting critical infrastructures and maintaining business continuity in an era where cyber threats are becoming more sophisticated.

Market Analyst

The announcement of Noventiq's joint venture with Net One Asia is a strategic move that can be expected to have a positive impact on Noventiq's market positioning in the APAC region. The joint venture aligns with Noventiq's broader expansion strategy and could serve as a catalyst for growth by leveraging the combined strengths of both companies.

Furthermore, the timing of this joint venture is notable as it precedes Noventiq's plans to list on Nasdaq. This could potentially enhance investor confidence by demonstrating Noventiq's commitment to growth and expansion, which may be reflected in the company's valuation and stock performance upon listing. The partnership's focus on innovation and the integration of Noventiq's proprietary technologies with Microsoft's offerings could appeal to investors looking for companies at the forefront of technology and cybersecurity advancements.

Financial Analyst

The financial implications of the joint venture between Noventiq and Net One Asia are multi-faceted. For Noventiq, the partnership is likely to result in an expanded customer base and increased revenue streams from the Singapore market and potentially from other APAC countries in the future. The joint venture's ability to offer a full spectrum of Microsoft technologies, complemented by Noventiq's proprietary solutions, positions the company to capitalize on the growing demand for sophisticated digital transformation and cybersecurity services.

Moreover, the business combination agreement with Corner Growth Acquisition Corp. is an important step for Noventiq's financial strategy, as it is expected to provide the company with access to new capital sources, which could fuel further mergers and acquisitions and enhance its technological capabilities. This move could also have a favorable impact on Noventiq's market valuation and financial stability, making it a company to watch in the technology and cybersecurity sectors.

This initiative is designed to accelerate Noventiq's presence in Singapore and across the APAC region, providing local organizations with advanced cybersecurity and Microsoft offerings

SINGAPORE--(BUSINESS WIRE)-- Noventiq Holdings PLC (Noventiq), a global leader in digital transformation and cybersecurity solutions and services provider, is excited to announce a strategic joint venture with Net One Asia, a premier provider of IT services in Singapore. This partnership marks a significant milestone in Noventiq's expansion strategy in the Asia Pacific region, leveraging the strengths of both companies to bring comprehensive Microsoft technology solutions to the Singapore market.

The joint venture, operating under Noventiq Singapore Pte Ltd, is a testament to both companies' commitment to driving digital innovation. With a focus on cybersecurity and Data&AI, including Microsoft Copilot, Noventiq Singapore will offer the full spectrum of Microsoft technologies and solutions that

Noventiq delivers in 60 countries worldwide. This initiative is designed to accelerate Noventiq's presence in Singapore and across the APAC region, providing local organizations with advanced cybersecurity and Microsoft offerings.

Partnership Synergy

Noventiq's contribution to the joint venture encompasses its extensive relationship with Microsoft as one of its global partners, 15 Advanced Specializations, and a dedicated team of 300 people in the APAC region operating in 8 countries around Asia, supported by resources from Noventiq’s Global Delivery Centers. Net One Asia brings to the table a team of 180, its operational prowess, a robust salesforce, and a clientele of over 1000 customers across Asia. This partnership is uniquely positioned to deliver growth through the synergistic combination of both companies' strengths.

The joint venture is expected to fast-track Noventiq's success in Singapore, mirroring its achievements in other new markets.

The main goal is to focus on the Singapore market, with plans to explore new initiatives in the Asia Pacific region in the future. The joint venture will introduce products, services, and solutions from Noventiq’s own IPs such as Weaver AI, Fintense, or Selecta as well as our offerings on Microsoft technologies, including Copilot. The partnership will also expand into other partners’ solutions.

Hervé Tessler, CEO of Noventiq, commented: “As we continue on our journey to list on Nasdaq, these steps in our expansion plan are crucial for Noventiq. Positioned to serve the Singapore market, this collaboration integrates Noventiq's innovative solutions and services with a robust Microsoft ecosystem, spanning across all industries. This venture promises unparalleled cybersecurity protections and the unique offerings of Microsoft, which will bring multiple benefits for companies within the market and the broader region. Beyond technological advancements, this partnership is set to create new job opportunities, enabling employees from both entities to participate in cross-training and contribute to a growing team dedicated to the success of the joint venture.”

Ilya Anzhiganov, Vice President Noventiq Asia Pacific, comments: "Our primary objective centers on making a significant impact in the Singapore market, setting the stage for future expansion across the Asia Pacific. Through this joint venture, we aim to introduce a suite of innovative products, services, and solutions, leveraging Noventiq's proprietary technologies like Weaver AI, Fintense, and Selecta, alongside our comprehensive offerings in Microsoft technologies, including Copilot."

Alex Toh, Group Managing Director of Net One Asia, said: “We are thrilled to embark on this joint venture with Noventiq, a partnership that signifies a pivotal step forward in our mission to transform the digital landscape in Singapore. Together, we are set to unlock new opportunities, leveraging Noventiq's global expertise in Microsoft technologies and our deep understanding of the local market dynamics. This collaboration will create a synergy that will drive innovation, enhance cybersecurity, and deliver unprecedented value to our customers.

Business Combination Agreement

As previously announced on May 4, 2023, Noventiq and Corner Growth Acquisition Corp. (NASDAQ: COOL) entered into a business combination agreement that is expected to result in the combined company being listed on Nasdaq under the symbol “NVIQ”. The proposed business combination is expected to provide Noventiq with improved access to new sources of capital, accelerate M&A opportunities, and enhance its reach and capabilities in fast-growing technology development in cybersecurity, generative AI, and other high-margin solutions and tools.

About Noventiq

Noventiq (Noventiq Holdings PLC) 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 organizations across a comprehensive range of industries with best-in-class IT vendors, alongside its own services and proprietary solutions.

The company’s rapid growth is underpinned by its three-dimensional strategy to expand its market penetration, product portfolio, and sales channels. This is supported by an active approach to M&A, positioning Noventiq to capitalize on the industry’s ongoing consolidation. With around 6,400 employees globally, Noventiq operates in approximately 60 countries with significant growth potential in multiple regions including Latin America, EMEA, and APAC – with a notable presence in India. For more information: Noventiq – a global provider of IT solutions and services.

About Net One Asia

Net One Asia, a leading IT solutions provider with over 30 years of experience, empowers businesses across Asia to achieve their technological goals. We deliver Secured Hybrid Multi-Cloud and End User Computing/Future Workplace solutions, leveraging our expertise and partnerships with industry leading software, hardware and cloud vendors to craft the right solution tailored to each client's specific needs, both current and future.

With a proven track record of success in Banking, Financial Services and Insurance (BFSI), Enterprises, Government, and Healthcare, Net One Asia is uniquely positioned to support our clients’ transformation journey, providing a comprehensive suite of services, including consulting, design, architecture assessments, migration, and deployment, to ensure a smooth and successful transition to a secure and modern IT infrastructure and Workforce.

Commitment to success beyond the initial implementation, Net One Asia's certified 24/7 Network Operations Center (NOC) provides Managed Services; working with our clients as their extended team, through our Service Desk, Monitoring, and Infrastructure Operations, ensuring business systems are always running smoothly, allowing them to focus on what matters most. For more information: Home Page - Net One Asia.

About Corner Growth Acquisition Corp.

Corner Growth Acquisition Corp. (Nasdaq: COOL) is a special purpose acquisition company (SPAC) focused on partnering with a high growth technology company. Corner Growth’s mission is to deliver value to its investors by providing a compelling alternative to a traditional public offering. Corner Growth is uniquely positioned to deliver on its value-add approach given its management team’s history, experience, relationships, leadership and track record in identifying and investing in disruptive technology companies across all technology verticals.

Corner Growth also brings a group of highly respected investment professionals, with strong track records and deep individual experience in SPAC and de-SPAC processes, a rolodex of premier public market investors, and a team of advisors who offer experience and access to networks across a broad functional and physical geography.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240325749963/en/

Noventiq Contacts:



Investors:

Steven Salter

VP Corporate Affairs

IR@noventiq.com



Media:

Rocio Herraiz

Global Head of Communications

pr@noventiq.com

Source: Corner Growth Acquisition Corp. & Noventiq Holdings PLC

FAQ

What is the strategic joint venture announced by Noventiq Holdings PLC?

Noventiq Holdings PLC announced a strategic joint venture with Net One Asia in Singapore, focusing on cybersecurity and Microsoft technology solutions.

What is the main goal of the joint venture between Noventiq and Net One Asia?

The main goal of the joint venture is to accelerate Noventiq's presence in Singapore, with plans to explore new initiatives in the Asia Pacific region in the future.

What are some of the technologies and solutions that Noventiq Singapore will offer?

Noventiq Singapore will offer a full spectrum of Microsoft technologies and solutions, including Noventiq's proprietary IPs such as Weaver AI, Fintense, or Selecta, and Microsoft technologies like Copilot.

What benefits are expected from the joint venture between Noventiq and Net One Asia?

The joint venture is expected to bring growth and innovation, create new job opportunities, expand into other partners' solutions, and provide unparalleled cybersecurity protections and the unique offerings of Microsoft.

What is the expected result of the business combination agreement between Noventiq and Corner Growth Acquisition Corp.?

The business combination agreement is expected to result in the combined company being listed on Nasdaq under the symbol 'NVIQ', providing improved access to new sources of capital, accelerating M&A opportunities, and enhancing technological capabilities.