Proact’s acquisition of the top-ranking IT managed services provider PeopleWare enhances Proact’s market presence in the Netherlands and Belgium and adds expertise for delivering high-growth managed cloud services into the medium sized enterprise segment.
Proact IT Group AB, a leading independent IT solutions and cloud services provider, is pleased to announce the acquisition of PeopleWare ICT Solutions BV, an IT managed service provider based in the Netherlands and Belgium.
Acquisitions are a key part of Proact’s updated growth target with the ambition to broaden the portfolio of offerings and expand the presence in key markets. Founded in 2003, PeopleWare is a privately held company with over 220 employees and more than 170 active customers. The acquisition will greatly enhance Proact’s presence and ability to serve the medium sized enterprise segment in the Dutch and Belgian markets.
PeopleWare’s core businesses are services like outsourcing, cloud infrastructure, business consultancy and IT-staffing. PeopleWare was ranked in 1st place in Giartes Outcourcing Performance 2019 whilst Proact was ranked in 2nd place.
The company is acquired from the founders, who will remain with the company. Following the acquisition, PeopleWare and its employees will become an integral part of Proact in the Netherlands and in Belgium.
Jonas Hasselberg, CEO and President of Proact IT Group AB comments: “We are very happy to welcome PeopleWare to the Proact family. Our combined customer base, service offering and business culture makes PeopleWare and Proact an excellent strategic fit. By uniting our teams in the Netherlands and Belgium, we will add greater value to our customers through an even stronger portfolio and skill-set covering the hybrid cloud deployment models. PeopleWare will also contribute to our strategic targets of revenue growth and improved EBITA margins, in alignment with our updated strategy and financial targets.”
Sander Dekker, Business Unit Director West of Proact IT Group AB adds: “As the name suggests PeopleWare is a company driven by the dedication of great people which, together with our fantastic Proact team, will become a leading services organisation in the Benelux market on consulting and outsourcing services. “
Mark van Liempt, CEO of PeopleWare agrees: “Becoming part of Proact offers PeopleWare the chance to further expand our outsourcing activities and services. The vast customer base of Proact, combined with our expertise and experience in the field of IT outsourcing, is key to further growth and success. The combination of the two companies will add value to our current customer base and will increase our joint presence on the Dutch and Belgian IT market.”
The purchase price amounts up to EUR 17 million and is based on 2019 full year performance, corresponding to 8x adj. EBITA. The purchase price will be released at its full during a 24 month period post-closing. PeopleWare has a yearly revenue of approximately EUR 28 million and will be consolidated into the group results as of now.