Technology

Proact CEO Jonas Hasselberg Gears Up to Capture the UK Market through Acquisition

Jonas Hasselberg, the new CEO of Proact, has candidly stated his intention to strengthen the company’s foothold in the UK by entering into strategic mergers and acquisitions. The storage integrator company, based in Sweden, topped up its financial goals. It plans to achieve year-on-year growth of 10% over the forthcoming three fiscal years. According to the financial report of 2018, the conjoint revenue of the company grew 2% to 279.6 Mn euros.

Hasselberg’s Three Year Plan for Growing its Revenue

Hasselberg explains that the endeavors for achieving y-o-y revenue growth of 10% can be diverted into two parts. The first part comprises leveraging its strong foothold in the market backed by its current offerings. The existing offerings pave the way to accelerate the organic growth of the core business. The second part of the agenda includes adding companies to its group and entering into strategic mergers and acquisitions. Though Hasselberg was reluctant on providing any particular information about the acquisitions, he cited that the company is currently implementing its acquisitive strategy.

In the bid to realizing its three year plan, the company is looking forward to acquiring many companies, however, they are not sure about the number of acquisitions that could happen over the course of three fiscal years. Proact stated that a considerable size of revenue growth of the company will result directly from the

acquisitions.

The company considers the UK as the big market for the services that Proact has to offer. The region has contributed significantly to the growth of the company, especially in cloud-based service offerings. Realizing the lucrativeness of the market, the company wants to venture into the region and bag the opportunities even if it suggests inorganic growth. It is eyeing the markets where the company does not have a fair share, which makes the UK market the top priority. Till date, it has successfully played in the data center market of the UK as a data integrator, however, now it wishes to hold a bigger share in the market which can be achieved with the help of acquisitions.

Another financial target of the company is to strike an 8% EBITDA margin. In the year 2018, the company achieved an EBITDA margin of 7% which equaled to 15.8 Mn euros, which is a strong indicator of the growing EBITDA tendency of the company.

About the author

Santosh Kumar

Santosh Kumar is a respected voice in the ICT domain. He has authored over 30 studies pertaining to cloud, cybersecurity, AI, and Big Data.

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