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Softline Attracts Investment by Da Vinci Capital

03.08.2016
Softline Attracts Investment by Da Vinci Capital

Softline, a leading global IT solutions and services provider focused on emerging markets, has attracted an investment by Da Vinci Capital, a leading emerging markets private equity firm.

The investment will be made by both Da Vinci Private Equity Fund II and the recently-established Da Vinci Pre-IPO Fund, which is backed by Russian Venture Company. Key deal terms were agreed in January of this year.

Softline plans to use the investment proceeds to expand its cloud and services businesses, diversify product offerings and enter new markets. The Da Vinci Capital deal comes in the wake of Softline’s January 2016 acquisition of Compusoftware, a leading Brazilian IT company, and of a late 2015 minority investment in Softline by Sovcombank, one of Russia’s fastest-growing banks. Softline anticipates launching an initial public offering on a global stock exchange within three years.

Softline board chairman Igor Borovikov said, “Da Vinci Capital, with its broad international expertise, has become our new private equity investor, validating our business model and investment case. In 2015, Softline’s turnover increased by more than 35 percent. Our strategy is to pursue further growth both through acquisitions in the BRICS countries and increasing the share of service and cloud products in our product mix.”

Da Vinci Capital founder and managing partner Oleg Jelezko added, “Companies providing value added cloud and IT services have among the highest growth rates globally, which spurs investor appetite. Da Vinci Capital believes in Softline’s high-growth potential and found the opportunity to invest in advance of an IPO particularly attractive.”



About Softline
Softline (www.softlinegroup.com) is a leading global IT solutions and services provider focused on emerging markets. Founded in 1993, Softline offers a broad range of services, including software, hardware, as well as cloud, security and IT consulting. With more than 60,000 loyal private and public enterprise clients worldwide, Softline is among top five IT firms in more than 30 countries across Eastern Europe, Latin America and Asia. In 2015, Softline’s turnover exceeded $800 million, and for the past 10 years, average annual sales growth has exceeded 30 percent.

About Da Vinci Capital
Da Vinci Capital (www.dvcap.com) is a leading emerging markets private equity manager. Backed by the European Bank for Reconstruction and Development and other major institutional investors, Da Vinci Capital has over $300 million of assets under management. Recent exits include EPAM Systems (NYSE: EPAM) and the Moscow Exchange (MCX: MOEX). Recent portfolio investments include electronic procurement platform B2B Center, collection agency First Collection Bureau and online high-frequency trading broker IT-Invest. Key Da Vinci team members also advise on Russia’s capital market development policy by sitting on the Moscow Exchange Committee for the Development of the Innovation and Investment Market.



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