For €14 million, Proact to Acquire Databasement

Proact IT Group AB has signed contract to acquire Databasement BV, with operations in the Netherlands, Belgium and Spain

Databasement has a total of 52 employees with annual sales of more than EUR 20 million. The purchase price for a total of EUR 14 million is paid in cash with 10 million divided into 3 equal instalments over the coming 12 months and an earn-out of 4 million after 3 years. The earn-out is based on growths in profit in the coming 3 years. The price is 7 times Databasement’s EBITA.

Proact’s results will benefit from the acquisition from the current quarter. Databasement’s business model, which mainly is based on managed services, offers higher margins than Proact’s. The acquisition is an important step for Proact to achieve the goal of a margin on 7% before tax by increasing the proportion of contracted services.

"We have since its inception 8 years ago built a leading position in storage centric Managed Services and Cloud Services, which has great momentum for the moment. The intellectual capital of these services and in the software InControl is unique and of great value. Consolidation in the IT-industry stresses that it is now time for us to scale up and expand, Proact is the perfect partner to do so," says Rob Christ, founder of Databasement.

Proact’s CEO Olof Sand said: "The acquisition of Databasement gives Proact a stronger position in the Netherlands and a platform to move on in Belgium and Spain. In addition, it enhances our offering in ‘storage-as-a-service’ and cloud services. Databasement has the best Managed Services offering in the market. The services are built on the proprietary software InControl, and it allows us to develop our offering and create value to our customer in all markets."

"From a strategic point of view, Proact with this acquisition takes a step towards becoming a European player, while increasing our offering in Managed Services in all countries where Proact is already active," says Jakob Høholdt, VP Corporate Strategy & Efficiency in Proact. "We look forward to work with Databasement’s interesting customers, skilled employees and to scale the business in Europe."