Home » Noventiq makes its case to tech investors as it looks to double business over two years

Noventiq makes its case to tech investors as it looks to double business over two years

by Tech Reporter
28th Jun 23 11:46 am

Noventiq, the global digital transformation and cybersecurity solutions and services provider has unveiled its business outlook for FY24 following impressive FY23 results which saw a turnover growth of 40% in USD and a 51% increase in gross profit.

Noventiq Chief Executive Hervé Tessler led an investor presentation alongside Marvin Tien, Chief Executive of Corner Growth Acquisition Corp. (Nasdaq: COOL), a special purpose acquisition company led by veteran technology investors, to discuss the companies’ business combination agreement that will result in the combined company being listed on the Nasdaq.

During the presentation, Marvin Tien praised Noventiq for closing the penetration gap for digital transformation in high-growth markets, whilst delivering solutions at scale across the globe. Backed by twenty years of investment in the technology sector, Corner Growth has identified Noventiq as a great fit for US public markets. This is due to its focus on high growth emerging markets and its consistent track record on delivering very significant growth over many years.

Hervé Tessler, CEO of Noventiq, said: “We have positioned ourselves at the heart of the digital transformation ecosystem, offering an unrivalled breadth of capability, depth of expertise, focus on emerging markets, global reach and market consolidation in comparison with other global players. We continue to invest in strategic partnerships so that we can continue to extend our competitive reach in markets that have historically been overlooked by others.”

Building on a 25-year relationship with Microsoft, Noventiq has grown its related sales by 34% over the last year and is increasing its cooperation with the company around emerging technologies such as artificial intelligence.

Given 95% of Microsoft’s cloud sales[1] are conducted indirectly across the globe, Noventiq has demonstrated its geographical leadership and ability to continue scaling its long-standing partnership with the company.

With the digital transformation sector expected to grow to $500B in emerging markets by 2025, and a total addressable market expected to reach $3.6T, Noventiq’s business outlook reaffirms its commitment to delivering profitable growth and driving value for all its stakeholders.

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