Infinigate vows more expansion after 'record' results
The VAD saw figures grow double-digits as it ploughs on with its ‘aggressive’ expansion strategy
Infinigate Group has posted ‘record results' for its financial year ending 31 March, claiming that it plans to continue an agressive M&A strategy.
The pan-European distributor's annual revenues were €813m, a year on year surge of 26 per cent and a "step towards" the group's €1.5bn revenue target for 2024.
The Swiss VAD started the year strongly with its acquisition of French distributor D2B Informatique.
It said the buy was a "significant step" in its "aggressive" expansion strategy across EMEA as well as its plan to extend its market reach and consolidate its position as the "leading" distributor of cybersecurity solutions and subscriptions in the region.
In February Infinigate's CEO, Klaus Schlichtherle told CPI the distributor's priorities for the year included expanding its footprint into new EMEA countries and continuing to focus on the SMB market.
This financial year announcement coincides with a record first quarter for the cybersecurity specialist, which now has 80 per cent of its revenue from subscription-based services, it claims.
"Having already consolidated Infinigate's position as a leading VAD in Europe, our strategic leadership hires last year further strengthened the team and helped us prepare for the next phase of growth," said Schlichtherle.
"A steadily rising number of partnership deals with multinational industry-leading cybersecurity software vendors means we are able to offer our customers more choice, and helps us become the leading choice for cloud security vendors looking to boost their sales across the region."
The results also follow a pivotal year for the cybersecurity specialist, which was acquired in March 2021 by global investment firm Bridgepoint.
In October, the group had further strengthened its leadership team, with key senior hires including the appointment of Julien Antoine to steer business development and the promotion of Andreas Bechtold as chief revenue officer.
As part of its expansion, Infinigate says it has also rapidly grown its team, reporting a ten per cent rise in its headcount since March last year.