Softline Holding plc
("Softline" or the "Company")
Softline is exploring alternative options to adjust the group's assets and ownership structure
London, 6 May 2022 - Softline (LSE: SFTL), the Cyprus registered Global IT and digital transformation solutions provider headquartered in London and operating in 60 countries provides the following update.
Softline is committed to helping its clients with digital transformation in all of the geographies where it operates. It is clear that the ongoing geopolitical events have had a disproportionate influence on Softline's market value, which does not now reflect the company's fundamental value.
The company continues to proactively navigate the evolving market in Russia, mitigating impacts where possible, including certain disruptions on day to day operations, supply impacts, and vendor restrictions. The Russian and non-Russian businesses now differ significantly in operations, priorities, and go-to-market strategies. As a result, Softline is exploring alternative options to adjust the group's assets and ownership structure in order to optimize value for all of its stakeholders. Softline remains fully committed to serving customers globally with a focus on growth and addressing our customers, employees, vendors, and shareholders' needs and values.
Media Contact Eve Frayling | Investor Relations Contact Global Investor Relations VP IR@softline.com |
About Softline
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers' businesses, connecting over 150,000 organizations from all industries with over 6,000 best-in-class IT vendors, and delivering its own services and solutions. Foundation of Softline's growth is so-called three-dimensional strategy, which includes geographic, portfolio and sales channel expansion. This strategy is supported by energetic M&A activity, so Softline is benefiting from the on-going consolidation of the industry.
Thanks to this strategy, Softline is currently one of the fastest growing companies in the sector. Softline achieved a turnover of US$ 1.8 billion in the fiscal year of 2020. In October 2021, the company conducted a primary listing on the London stock exchange. Since the end of fiscal year 2020, Softline has acquired several companies with a total annual turnover of approximately US$ 200 million. Five more acquisitions got announced in the six weeks since the start of 2022.
Softline's 8,200 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe and Africa - markets with significant growth potential.
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