Softline Group acquires Perm based IT company Enaza

Enaza

Softline Group has acquired developer of platforms for distribution of software on subscription basis Enaza. Following the transaction, Softline will get new customers among Internet service providers, including “Rostelecom”. Cloud applications are becoming popular especially among small technology companies, while in large corporations their internal regulations may prevent them from executing such programs, experts expect.

Cyprus based Axion Holding Cyprus Ltd. became the owner of 100% of Enaza parent company OOO “Freshstore” in August of this year, confirmed by the data in EGRUL register. According to the information sent by Axion Holding Cyprus to Cypriot authorities, 79.9% of its shares belongs to the Softline Group Inc., another 15.7% in control of Da Vinci fund, 4,5% with OOO “Aeroplaza” that were previously included in the list of affiliated entities of Sovcombank. The sellers were Egor Guriev (20.8% of “Freshstore”), Evgeniy Zhulanov (42.2%) and Maria Sutormina (37%), as follow from “SPARK-Interfax” database. Enaza will be incorporated into the structure of Softline confirmed Softline Vice-President for investments Elena Volotovskaya.

“Freshstore” was founded in 2009. Its revenue in 2016 amounted to 432 million rubles., net profit — 25 million rubles. The company sells games, music, anti-virus software “Kaspersky Lab”, Dr. Web and other products through partners, who at different times included “Svyaznoy”, Rostelecom, ER-Telecom, etc. In 2014 its subsidiary company “Freshstore Service” was selected by “Rostelecom” for the contract to develop a gaming platform — games.rt.ru costed RUB 14 million. In May 2017 vc.ru announced the closure of the project. In addition, the Enaza Group developped a cloud gaming service Playkey through its OOO “Gaming solutions”, which is not part of the deal with Softline, said Enaza Marketing Director Roman Epishin.

The amount of the transaction is not disclosed, but Softline noted that the acquisition will pay for itself in three years. According to Mrs. Volotovskaya, Softline plans to scale the platform Enaza on foreign markets, including South America, Southeast Asia, Central Asia and Eastern Europe. “We have already held preliminary talks with several Telecom operators and service providers, who are our key customers, and agreed to begin work on implementation”, she added. In two years Softline plans to add “over $25 million in revenue” in foreign markets.

The market for cloud services in 2017 will grow by 18%, and by 2020, 80% of the total amount sold in the world will be sold on a subscription model, predicts Gartner. To expand in this segment in addition to Enaza Softline also acquired the rights to the platform Zsquare (100% of OOO “Z Square” was owned Olga Zubritskaya). After two transactions Softline’s share in the Russian market segment of b2c subscriptions to antivirus to providers is approximately 85%. Combined customer base of Enaza, Zsquare and Softline exceeds 20 million subscribers, said Mrs. Volotovskaya.

The cloud model is more profitable for customers on a number of indicators, the senior Executive Director “BDO Unicon Business solutions” Andrey Yakimenko. So, when you purchase non-subscription cost of technical support it can reach 20-25% of the cost of the license itself, he says. It is possible to predict that a subscription model are more likely to used used by service companies, retailers, small but technologically advanced service companies, and to a much lesser extent large companies, says Mr. Yakymenko. “This is due to the fact that large production companies often have internal regulation base, limiting the use of cloud applications. In this segment the rapid development cloud based applications should not be expected”,— the expert concludes.

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