Softline Group to consolidate business application assets under single SL Soft company

MOSCOW. April 24 (Interfax) - The Russian Softline Group is creating a vendor company for business applications for corporate clients, which will operate under the SL Soft brand, Softline said in a statement.

The SL Soft portfolio will include Russian software products which already existed within Softline Group divisions as well as those recently acquired from Aplana Group.

In particular, the SL Soft portfolio currently includes products in personnel management; robotization and intelligent analytics; and digital document/content management.

"We set ourselves ambitious tasks of exponential business growth in the next few years - both by working closely with customers and entering new geographic markets, and by constantly improving and expanding our product line," Softline Group board member Tagir Yapparov was quoted as saying in the statement.

Softline Group is a provider of solutions and services in the field of digital transformation and information security. The Russian company was part of the international Softline group founded by Igor Borovikov, which was split into Russian and international businesses in the summer of 2022. The Russian business was sold to Borovikov for a token $1 after the split, while the international business continued to operate, changing its name to Noventiq.

In April, Borovikov and a group of investors decided to sell 100% of Softline Group to a fund under the management of TETIS Capital LLC. The transaction is due to be fully completed by April 30 of this year.

Softline's turnover to IFRS decreased by 9.1% in 2022 to 70.7 billion rubles. Adjusted EBITDA decreased by 28% to 2.6 billion rubles.