The Softline group of companies will be sold to the management company TETIS Capital
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The Softline group of companies specializing in information technologies will be sold to the TETIS Capital management company, reported group press office. The sale is expected to close by April 30, 2023.
The decision to sell 100% of the company’s shares to a fund managed by an independent company LLC TETIS Capital was made by Softline founder Igor Borovikov together with a group of investors. Mr. Borovikov himself will leave the group’s shareholders.
The report notes that in recent years, management and operational control has completely passed to the management of Softline. In the near future, employees and management of the company will receive direct ownership of up to 15% of the shares of Softline JSC. It is planned that in the medium term, the share of employee ownership of shares will increase to 25-30%.
In October 2022 Softline completed the process of spinning off the Russian part of the business. In Russia, the company continued to work under the name “Softline Group of Companies”, the international structure changed its name to NOVENTIQ. In February of this year, NOVENTIQ announced a merger with the American Corner Growth Acquisition Corp. in order to obtain a listing on the Nasdaq.
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