Novare buys 100% stake in digital solutions firm Appistoki
MANILA, Philippines — Homegrown tech company Novare acquired full ownership of Singaporean digital solutions firm Appistoki, allowing the local enterprise to expand its presence across Asia-Pacific region
This transaction—whose value is undisclosed—provides Novare access to Salesforce solutions, which are an expertise of Appistoki.
Salesforce is customer relationship management platform providing solutions for sales, service, marketing and commerce.
“With Appistoki joining the Novare Group, we are excited to deliver innovative solutions that embody our commitment to purposeful technology,” said Appistoki founder and CEO Abhijeet Kulkarni in a press briefing in Taguig on Friday.
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Appistoki has clients in the United States, Singapore, India, Indonesia, Ireland and the Philippines.
Novare CEO Victor Silvino said they were looking forward for the synergy between the companies given the “common opportunities” they can work on together.
Silvino is particularly upbeat on the prospects of API (application programming interface) development or the formulation of software catering to enterprise requirement, cloud and network and security.
He tagged these as the primary revenue earners for the company, signaling a strong demand for further digitalization among their client enterprises.
Novare chief technology officer William Yu said that companies would likely tap more cybersecurity solutions amid the increasing incidents of data breaches.
Yu noted that ransomware is among the usual digital attacks launched against companies. In this cyberattack, hackers hold an entity’s network hostage until a ransom is paid.
Kaspersky, in a related study, also sounded the alarm on “financial phishing” that targets banking, payment systems and online retailers. An example is creation of fake websites mimicking popular payment platforms in a bid to trick users into giving their bank account details.
In the Philippines, over 38,000 phishing attempts were logged last year, according to the Russian cybersecurity firm.
Moving forward, Silvino also said they would work on deploying more artificial intelligence (AI) tools to enterprise clients.
“With Novare, we hope to make a difference in that fluid transformation space,” he added.
