Proact acquires Teamix GmbH to strengthen its position in Germany
Proact IT Group AB (publ) has, via its own shares and cash, acquired all the shares of Teamix GmbH. The total purchase price is 9 MEUR, which corresponds to a P/E ratio of 8. The operation will be part of the Proact Business Unit West, and will be operated as a separate entity under the name Proact IT Germany GmbH.
It is strategically important for Proact to be present in the German market. Proact founded a “greenfield” operation in Germany in 2014. The acquisition of Teamix, an established, growing and well-managed company, will accelerate Proact’s growth in Germany and increase the earnings per share of Proact.
For Oliver Kuegow and Richard Müller, co-founders of Teamix, it’s especially the international aspects and the power of a larger corporation that made them interested in being part of the Proact Group. "Joining forces with Proact enables us to deliver improved levels of projects and services for the benefit of our customers, at the same time we will gain operational synergies in the service business" says Oliver Kuegow and Richard Müller. Both of them will remain as Directors in Proact IT Germany GmbH.
Teamix is a skilled provider of technology and services to a diverse customer base in Germany. Teamix has strong capability in all the core Proact areas of datacenter architecture and associated services. Teamix will also augment Proact’s existing networking and security portfolio with their own specialist and dedicated expertise. In addition, Teamix will align well with Proact’s core values of integrity, commitment and excellence. The company has 85 employees with an annual turnover of approximately 35 MEUR. Teamix is headquartered in Nurnberg, with additional offices in Bayreuth, Mainz and Munich.
Proact’s CEO Jason Clark says “Teamix is a perfect match for Proact when it comes to culture and capability. With the addition of such an established and successful business, and a capable management team, Proact achieves scale and competence in a core European market. I look forward to enhancing our customer value, with a new and stronger team in Germany”.
For further information, please contact:
Jason Clark, CEO and President, Proact IT Group AB, tel 44 1246 266300
Peter Javestad, Vice President / IR, Proact IT Group AB, tel 46 733 56 67 22, email@example.com
Proact is Europe’s leading independent datacentre and cloud services provider. Proact supplies business benefits by helping companies and authorities to reduce risk and costs, and above all to supply them with flexible, accessible and secure IT services. Proact’s cloud service operations manage 70 petabytes of information. Proact has completed more than 3,500 successful projects all over the world to date.
The Proact Group has more than 720 employees and operates in 15 countries in Europe and in the USA. Proact was founded in 1994, and its parent company Proact IT Group AB (publ) has been listed on Nasdaq Stockholm under the symbol PACT since 1999.
For further information about Proact’s activities please visit us at www.proact.eu
This information is information that Proact IT Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact persons set out above on 3 January 2017, at 08.00 AM CET.