Submitted by Antony Savvas on September 13, 2021
Softline has acquired the licensing business of Squalio in Latvia, Lithuania, Belarus and Estonia.
The licensing business of Squalio represented 98% of its total revenue in 2020. The deal aligns with Softline's plans to further expand across Europe.
Squalio CEO Sandis Kolomenskis will continue to lead the licensing business with support from Softline.
Kolomenskis said: “By joining forces with Softline, another fast-growing tech company, we are confident that the expanded portfolio breadth, customer and market reach, and investment capacity, will support us in achieving our goals.”
Softline global CEO Sergey Chernovolenko said: “Squalio has developed a dominant licensing business through first-class licensing expertise and certifications with key strategic vendors, such as Microsoft, Adobe, Oracle, IBM, Google and other cloud and security solutions leading players.
“As we continue to expand our presence in Eastern Europe and the Baltics through a strategy that balances acquisitions and organic growth, we have the opportunity to grow alongside Squalio in the coming years.”
In September 2020, the Softline group opened its headquarters in London; followed by the acquisition of the software development outsourcing business of Aplana Group; purchasing a controlling stake in the German company Softline AG, and in Embee, an Indian IT company specialising in cloud services, software licensing, cybersecurity and system integration services.