Pan-European managed service provider Proact has sold its Spanish subsidiary to local firm Cibernos Group. Proact’s wholly owned subsidiary in Spain was established through the acquisition of Databasement International in 2011.
Under the acquisition agreement, Cibernos will continue to serve current Proact customers in Spain and the entire staff will be offered the opportunity to transfer to Cibernos.
The acquisition, said Cibernos Group, will complement and expand its capacity to provide advanced solutions and services to companies and the government sector, 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, Proact said.
In December 2018, Proact updated its financial targets to reflect the company’s “new strategic direction”. “In relation to 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,” the firm said.
Jonas Hasselberg, CEO and president of Proact IT Group AB, said: “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.”
Rogelio Toledo García, CEO of Grupo Cibernos, said: “With this acquisition we reinforce our capabilities and improve our services to both current and future clients.”
Proact employs over 800 across15 countries in Europe and North America, and is listed on Nasdaq Stockholm.
