QBS grows in META region with Turkish distributor deal
The software distributor declared this will not be its only investment in 2023
Software delivery platform QBS has completed a majority investment in Turkey-based cybersecurity distributor, InfoNet as part of its expansion into the Middle East, Turkey and Africa (META) as it aims to become a $1bn (£800m) business by 2030.
This newest financing is its first of 2023, but QBS assures it won't be the last splashing of the cash this year.
"Turkey has been on our radar for some time, but finding a company with the right fit was of utmost importance," explained QBS CEO, Dave Stevinson.
"With InfoNet, we have an established and successful distribution business with a large customer network and best-in-class products, as well as a very experienced management team and exceptional strong technical competency.
"We look forward to supporting the InfoNet business and strategy, and welcoming our new colleagues into the QBS Technology Group."
InfoNet represents several brands in Turkey, including Allot, Checkpoint, EfficientIP, Firemon, ForcePoint, Ipswitch/Progress, Indeni, RSA and Trend Micro.
The newly acquired distributor's headcount currently stacks up to 32 people based in its Istanbul and Ankara offices.
InfoNet founding partner and chair of the board, Kemal Ciliz, added: "Our business has experienced continuous growth, however, to reach the next level, we required a partner with a shared vision for the company as well as having similar values."
The InfoNet deal is part of a wider expansion QBS has been on for some time.
In 2022, QBS launched a new distributor in the UK which it claims was designed to bring "the best of the best" hypergrowth vendors to the UK market.
The new brand, called Orchestra, launched in the UK and Germany with a plan to build the business across Europe.
Orchestra launched with five initial vendors - Keeper Security, Automox, DNS Filter, Octopus Deploy and CoreView - which specialise across cybersecurity, DevOps and Microsoft365 management.