Proact Sells Spanish Subsidiary to Cibernos

Cibernos Group and Proact IT Group AB 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 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 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,” said Rogelio Toledo García, CEO, Cibernos.