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Proact sells Spanish subsidiary

June 2019 by Marc Jacob

Cibernos Group and Proact announce an agreement for the acquisition of the spanish subsidiary of Proact. With this acquisition, Cibernos Group continues with its expansion strategy, both national and international, strengthening its capabilities and expanding its geographical location.

Proact’s wholly owned subsidiary in Spain was established through the acquisition of Databasement International. in 2011. Under the agreement, Cibernos will continue to serve current Proact customers in Spain, and the entire staff will be offered the opportunity to transfer to Cibernos.

With the acquisition of the Spanish subsidiary of Proact, Cibernos Group complements and expands its capacity to provide advanced technological solutions and services to Companies and Government, 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.

Since its creation, Cibernos Group has been incorporating different companies to the group, complementing and reinforcing its offering and geographic presence, growing, both organic and inorganically.

As communicated in December 2018, Proact IT Group AB has updated its financial targets to reflect the company’s strategic direction. In relation 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.


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