Proact sells Spanish subsidiary
Cibernos Group and Proact announce an agreement for the acquisition of the spanish subsidiary of Proact. With this acquisition, Cibernos Group continues with its expansion strategy, both national and international, strengthening its capabilities and expanding its geographical location.
Proact’s wholly owned subsidiary in Spain was established through the acquisition of Databasement International. in 2011. Under the agreement, Cibernos will continue to serve current Proact customers in Spain, and the entire staff will be offered the opportunity to transfer to Cibernos.
With the acquisition of the Spanish subsidiary of Proact, Cibernos Group complements and expands its capacity to provide advanced technological solutions and services to Companies and Government, both in Spain and internationally.
The parties have agreed not to disclose the value of the transaction. The divestment is expected to have a limited negative impact on Proact´s revenue and a limited positive impact on the EBITA margin.
Since its creation, Cibernos Group has been incorporating different companies to the group, complementing and reinforcing its offering and geographic presence, growing, both organic and inorganically.
As communicated in December 2018, Proact IT Group AB has updated its financial targets to reflect the company’s strategic direction. In relation these changes, Proact’s presence in Spain is not considered a strategic fit, as the Group will focus on further growth in its major markets.
“We believe this agreement is the best solution for Proact. Transferring to Cibernos Group also presents a nice opportunity for our valued employees in Spain, and for customers who will be served by a local market leader with excellent credentials for successful delivery and quality support,” says Jonas Hasselberg, CEO and President, Proact IT Group AB.
“With this acquisition, Cibernos reinforces its capabilities and allows us to improve our offering and services both to current and future clients.”
Rogelio Toledo García, CEO. Grupo Cibernos.
For further information, please contact:
Jonas Hasselberg, CEO and President, Proact IT Group AB, firstname.lastname@example.org
Jonas Persson, CFO and Head of IR, Proact IT Group AB, tel: +46 733 566 690, email@example.com
Sander Dekker, Business Unit Director Europe West, Proact IT Group AB, tel: + 31 30 30 33 200, firstname.lastname@example.org
Proact is Europe’s leading independent data centre and cloud services provider. By delivering flexible, accessible and secure IT solutions and services, we help companies and authorities reduce risk and costs, whilst increasing agility, productivity and efficiency. We’ve completed over 5,000 successful projects around the world, have more than 3,500 customers and currently manage in excess of 100 petabytes of information in the cloud. We employ over 800 people in 15 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), listed on Nasdaq Stockholm in 1999 (under the symbol PACT).
For further information about Proact’s activities please visit us at www.proact.eu