Cybersecurity firm, Noventiq has completed the acquisition of Saga Group, increasing its presence in Eastern Europe and opening entry to new markets such as Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia.
The deal gives Noventiq access to the group’s digital products, including its own IP for digital banking, Fintense which was created by Saga’s subsidiary NF Innova. The digital banking platform offers process automation, data management and personal advisory through multiple channels.
Also included is Saga’s other IP platform, Weaver which is a mature AI-developed chatbot, and Selecta, which is a next-generation AI-empowered CRM platform. These are both owned and created by Intellya, another subsidiary of Saga Group.
The companies said in a statement that group 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.
Herve Tessler, President and COO at Noventiq, said, “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. Saga’s solutions offerings and sophisticated own IP will help Noventiq to grow our portfolio capabilities in the region and beyond.”
The announcement follows a raft of other acquisition deals already completed by Noventiq in 2023, including that of UAE-based Seven Seas Technology and Egyptian cloud specialist, DigiTech.
