Noventiq adds AI chatbot to services roster with latest buy

Saga Group is the latest to be snapped up in Noventiq’s acquisition spree

London-listed Noventiq has completed its second acquisition in a week with the addition of the Saga Group to its roster.

On Monday the cybersecurity solutions and services provider signed off on its takeover of UAE-based systems integrator Seven Seas Technology.

The goal to take a majority stake in the Serbian IT services and solutions provider was first declared in September.

The deal builds Noventiq's presence in Eastern Europe and opens doors to other markets such as Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia.

The acquisition also adds a variety of Saga's products to Noventiq's offering, including an omnichannel digital banking platform with process automation, data management and personal advisory; an AI developed chatbot; and an AI-empowered CRM platform.

AI chatbots are currently a fast-growing trend in the tech industry following the major impact of OpenAI's ChatGPT, with partners weighing in on how it will influence the IT channel.

"The closing of this deal will strengthen Noventiq's footprint in the Eastern European region, which is a key strategic approach for our company in 2023," said Noventiq president and COO, Herve Tessler.

"Saga's solutions offerings and sophisticated own IP will help Noventiq to grow our portfolio capabilities in the region and beyond."

Saga Group and its subsidiaries will continue to operate under its existing brand while incorporating the 'a Noventiq company' into its logo.

It will maintain its headquarters in Belgrade, and will continue to be led by its current management team, and the president of Saga supervisory board, Dejan Popovic.

Popovic added: "I am very excited with the announcement of the closing of this deal because it implies that now Saga Group and its customers will benefit from Noventiq's strong connections and relationships at a global scale with top IT leaders such as AWS, Google, Microsoft, VMWare and many others.

"We are also very keen to work alongside their workforce of almost 5,900 employees all with extraordinary skills."