Noventiq and Corner Growth Acquisition Corp Seek Nasdaq Listing for Joint Venture
In a significant move towards the public markets, digital transformation and cybersecurity solutions provider Noventiq, alongside special purpose acquisition company (SPAC) Corner Growth Acquisition Corp, has filed documentation with the US SEC for their combined entity’s listing on the Nasdaq in New York.
Noventiq’s Digital Transformation Expertise
Noventiq specializes in enabling, facilitating, and accelerating digital transformation for businesses. With a vast network connecting over 80,000 organizations across diverse industries to more than 500 vendors, the company delivers its services and proprietary solutions, showcasing a commitment to innovation.
Microsoft Intelligent Security Association Membership
Highlighting its dedication to cybersecurity, Noventiq recently announced its membership in the Microsoft Intelligent Security Association. This move emphasizes the company’s focus on providing end-to-end solutions for clients to proactively safeguard their data, infrastructure, and applications by detecting and thwarting threats.
As part of its continuous efforts to support businesses in their digital transformation journey, Noventiq launched Weaver Peer. This knowledge-based AI assistant, developed in-house by Noventiq subsidiary Intellya, aims to assist businesses globally in navigating the complexities of digital evolution.
A Vision for Nasdaq Listing and Future Growth
Hervé Tessler, CEO of Noventiq, expressed enthusiasm about the Nasdaq listing, stating, “The filing of our F-4 represents a significant milestone in our path towards a Nasdaq listing and broader participation for public investors.” He emphasized the company’s commitment to expanding capabilities and competitive reach in emerging markets.
Marvin Tien, Co-Chairman and CEO of Corner Growth, sees the move as a step towards addressing the global demand for digital transformation and cybersecurity solutions. He noted that Noventiq, with its focus on high-growth emerging markets, is well-positioned to bring these solutions to a global customer base.
Noventiq, boasting approximately 6,400 employees globally and transactions in 60 countries, reported $402 million in revenue for the year ended March 31, 2023, marking a substantial increase. The proposed business combination aims to enhance Noventiq’s access to capital, accelerate M&A opportunities, and elevate its presence in rapidly evolving technology sectors.
The partnership adopts a “double-dummy” structure, adjusting Noventiq’s equity valuation from $877 million to $330 million. The extension of the closing date for the Business Combination further underscores the strategic importance of the move.
