Finance & Economics

Noventiq Closes Acquisition of Saga Group

Noventiq, a global provider of solutions and services in the field of digital transformation and cybersecurity, announced the completion of the acquisition of a controlling stake in  .

Noventiq Closes Acquisition of Saga Group

Source: Pixabay.com

In September 2022, Noventiq signed an agreement to acquire Saga Group. The implementation of this transaction strengthens the company’s position in the Eastern European financial services market. Also, as a result of the acquisition of a controlling stake in Saga Group, the firm enters the markets of Serbia, Bosnia and Herzegovina, Northern Macedonia, and Montenegro.

Noventiq customers will have access to Saga Group’s digital products, including its IP for digital banking Fintense, created by a subsidiary of Saga NF Innova. Fintense is a multi-channel digital banking platform offering process automation, data management, and personal consultations.

Another Saga IP platform, Weaver, is a chatbot with advanced artificial intelligence. Another Selecta product is a next-generation CRM platform with artificial intelligence support.

Saga Group and all its subsidiaries will continue to operate under their brand. The Group, whose headquarters will remain in Belgrade, will continue to be headed by the current management team and the president of the Supervisory Board of Saga, Dejan Popovic.

The amount of support that Saga and its subsidiaries offer to their customers will expand due to the global scale of Noventiq’s activities.

Herve Tessler, CEO of Noventiq says that closing the deal will strengthen the company’s presence in the Eastern European region, which is a key strategic approach for the firm in 2023.

Deyan Popovich, President of the Saga Supervisory Board, stated that his company’s customers will benefit from Noventiq’s strong global connections with leading IT leaders such as AWS, Google, Microsoft, VMware, and many others.

As we have reported earlier, Noventiq Completes Seven Seas Technology Acquisition.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.