TORONTO, November 26, 2024 -- NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a leader in AI-driven data solutions, announces the launch of its Microsoft Center of Excellence (COE) designed to meet enterprises' demand for Microsoft Azure-based data solutions. Recent studies show the widespread adoption of Microsoft’s technology, capturing a 45% share of new cloud projects. This progress, accelerate by GenAI, signals the importance of Azure in enterprise data strategy, providing a large addressable market for NOW.
The Global COE, part of the Microsoft AI Cloud Partner Program, leverages NOW's proven track record in AI-powered data transformation and deep expertise in cloud-based architecture. Comprising over 50 Microsoft specialists across India, the UK, and LATAM, the COE will enhance NowVertical’s competitive edge, driving significant growth and positioning the Company to further capture opportunities in the rapidly expanding Generative AI market.
The team’s vast experience includes successful completion of over 50 projects with enterprise clients on Microsoft Azure, from saving over US$3 million in 57 days for one of Europe’s largest telecom and media companies, to improving marketing campaign conversion by 30% for one of Latin America’s biggest Newspapers, underscoring the transformative potential of this collaboration.
Through the COE, NowVertical will deliver value across industries by accelerating time-to-insight and enhancing data-driven business outcomes, enabling clients to unlock the full potential of their existing data investments. As part of this collaboration, NowVertical expects to launch its suite of AI-powered solutions and services in the Azure Marketplace, positioning the company to capture new revenue streams and expand its
footprint in North America, EMEA, and LATAM.
Sandeep Mendiratta, CEO of NowVertical, said, "Our strategic partnership with Microsoft aligns with NOW’s long-term growth objectives, as we plan to roll out additional initiatives within the Azure ecosystem over the next 12-24 months to support our organic growth. The Microsoft AI Cloud Partner Program will also provide our team with key sales leverage, enabling us to meet the rising demand for AI-driven data solutions and capitalize on Microsoft's global reach and resources."
About NowVertical Group Inc.
The Company is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-part technologies. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Andre Garber, CDO
IR@nowvertical.com
Nikhil Thadani, Investor Relations and Communications
nik@sophiccapital.com
t: (289) 667-1977
Cautionary note regarding Forward-Looking Statements
This news release contains forward-looking information and forward-looking information within the meaning of applicable Canadian securities laws (together "forward-looking"), including, without limitation: expectations regarding NOW's business, finances and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions or dispositions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company's management's discussion and analysis for the year ended December 31, 2023. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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