Proact acquires Cetus Solutions Ltd.
October 2020 by Marc Jacob
Proact’s acquisition in the United Kingdom of the cloud and workspace specialist Cetus Solutions Ltd. enhances Proact’s market presence and adds further expertise for delivering cloud solutions and modern workspace services.
Acquisitions are a key part of Proact’s growth strategy with the ambition to broaden the portfolio of offerings and expand the presence in key markets. The acquisition of Cetus is expected to contribute to Proact’s revenue growth and improved EBITA margins, in alignment with the strategy and financial targets.
Founded in 2001, Cetus is a privately held company and will enhance Proact’s presence and ability to serve the medium and enterprise markets in the United Kingdom. With the combined value proposition and employees of both companies, Proact can provide a more complete offering to both existing and new customers.
The purchase price is GBP 7.7 million, on a cash free and debt free basis, corresponding to an EBITA multiple of 8. The transaction is well aligned with the communicated growth targets and is expected to increase Proact’s total yearly revenue by approximately GBP 13 million. Cetus and its employees will become an integral part of Proact IT UK Ltd.
This disclosure contains information that Proact IT Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-10-2020 08:00 CET.