PC-WARE, the big German-owned reseller, is buying Danish reseller Ravenholm Computing Group for an undisclosed sum.
Copenhagen-based Ravenholm has annual sales of €70m and is the market leader in Scandinavia for software licensing, according to PC-WARE. It has 140 staff in Denmark, Sweden, Norway, Finland and Switzerland. The company concentrates on sales to SMEs. This combination - SMEs and Nordic territories - presents a powerful rationale for the acquisition, says PC-WARE, which is under-represented in both areas.
The acquisition will take it closer to achieving its target of €1bn annual sales and an EBITDA (earnings before interest, depreciation and amortisation) margin of 3-4 per cent by 2009.
Now for a quote from Dr. Knut Löschke, CEO of PC-WARE:
"First, this acquisition gives us the chance to establish a region-wide presence in Scandinavia in a single move. Secondly, this acquisition offers tangible opportunities for us to generate and exploit synergies. The source of these synergies is to be found in the amalgamation of complementary customer groups, products and services. And the striking similarity between our corporate cultures will act as the catalyst for successful implementation." ®
Press release (English, PDF)