Proact IT Group acquires majority stake in B2Net for £12m


Proact IT Group acquires majority stake in B2Net for £12m

Microscope contributor

Swedish reseller Proact IT Group AB has bought its way into the UK market after forking out £12m for a 75% stake in services-based storage reseller B2Net.

This is the third acquisition by Proact following deals to buy Czech-based Storyflex late last year and more recently Dutch firm Databasement, taking annual run rate revenues to SEK 2.2bn (£215m), up 60% on a year earlier.

Olof Sand, CEO at the Scandinavian outfit, said setting up a UK beachhead in the storage and archiving sector was "a very important step for expansion in Europe".

Chesterfield-based B2Net employs 145 staff in five locations across the UK and had a turnover of £39m in the year to 31 December 2009, making a profit of £102,000.

"We are now in a period of change and the opportunity to match our skill and expertise with Proact's business model fits our future very well," said B2Net CEO Jason Clark.

It acquired small Cisco Gold partner Essant in November and claimed today that run rate sales currently stand at £48m.

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