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Proact Acquires Teamix GmbH for €9 Million

Provider of technology and services in Germany
This is a Press Release edited by StorageNewsletter.com on 2017.01.06

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Proact IT Group AB has, via its own shares and cash, acquired all the shares of Teamix GmbH.

The total purchase price is €9 Million, 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 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 provider of technology and services to a diverse customer base in Germany. It has capability in all the core Proact areas of datacenter architecture and associated services. It 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 Million.

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."

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