Proact acquires in the UK as sales rise

Acquisition of Cetus will add £13m to annual revenue

Proact has acquired Cetus Solutions for £7.7m to "enhance" its presence in the UK market.

Manchester-based Cetus lists digital workspace, hybrid cloud and business continuity among its specialisms on its website.

Proact said that the deal will add £13m to its UK revenue.

CEO Jonas Hasselberg said: "We are very excited to welcome Cetus into Proact.

"We share much of the same cultural values and the same fundamental views of making IT simple in order to help our customers store, connect, protect and drive value through data.

"We have the same passion for customers and the same ambition to provide great services and products to the market, which makes the combination of Cetus and Proact an excellent fit."

Proact said that the acquisition price equates to an EBITA multiple of eight.

Mike English, CEO of Cetus, said: "Joining Proact is an exciting opportunity which enhances our presence in the UK as a leading cloud and workspace specialist.

"The combined energy of Proact and Cetus will be a formidable force in the UK Marketplace, delivering complimentary services and strengthening the quality of our customer commitment.

"Our combined innovative spirit and experience will be the key ingredients to drive growth and customer satisfaction. I am proud and excited that Cetus now have become part of the Proact family."

The deal was announced as Proact revealed sales for the quarter ending 30 September climbed 17 per cent to SEK 821m (£71.6m). UK revenue during this period was up by a third.

Hasselberg said that the growth was mainly driven by a large deal in the UK, as well as "good growth" in the Nordics and Eastern Europe.

UK sales for the nine-month period between January and September stood at around £39m, Proact said.