QBS edges closer to annual billion dollar sales with software distributor acquisition
Cheshire-based software business QBS expects to reach its billion dollar a year sales threshold earlier than excepted after completing the purchase of distributor Prianto Group which owns twelve companies across ten countries.
Chief executive Dave Stevinson, who won CEO of the year at the 2024 Business of the Year Awards, told TheBusinessDesk.com that the deal consolidates the market position of both businesses in the enterprise software delivery and value added distribution market in Europe.
“This deal helps us expand our footprint deeper into Germany and France in particular. As well as gaining footholds in 5 major European cities,” he said.
“I also have 170 new colleagues joining the QBS team and by carefully blending our people investment with software engineering – we are perfectly poised to hit that billion dollars a lot earlier than 2030! – actually I am thinking should we raise that billion dollar target?”
The amount paid wasn’t disclosed, but typically businesses in the software distribution sector are valued at multiples of between seven and eight times profits, which would price this deal at around £40m.
The acquisition will create a market-leading entity with reoccurring revenues approaching $600 million and a combined workforce exceeding 400 professionals across 12 geographies.
This transaction will also be QBS’s fourteenth over the last six years and Stevinson said it “signifies a milestone” in the expansion of QBS Software.
Together, the combined entity is committed to exceeding the ambitions of their publisher portfolio, delivering on improved operational excellence, and exceptional partner service in the enterprise software distribution industry.
As part of the deal QBS has agreed to acquire 12 companies in 10 countries; Prianto GmbH, Prianto France SAS, Prianto Services GmbH, Prianto Limited, Prianto BV, Prianto Schweiz GmbH, Prianto Projects and Procurement GmbH, Prianto Austria GmbH, Prianto Polska Sp.z.o.o., Prianto Turkey, Prianto South Africa and Prianto Hungary.
Stevinson said: “Prianto is a perfect fit on so many levels. By carefully integrating strategic acquisitions into our double digit organic growth engine, it allows QBS to better serve our partners and publisher communities. I am delighted to have William, Oliver and Thomas join us as we accelerate our pathway to a billion dollars.”
William Geens, co-Founder of Prianto, said: “We are convinced that the market opportunities for our market partners as well as our employees are significantly strengthened with the combination of the QBS and Prianto skills. Together we will be one of the most attractive software distributors in the world with a perfect set of values and a strong position for ongoing success.”
Oliver Roth, co-Founder of Prianto added: “I am very pleased with the acquisition. This is an exciting time for the two companies, and I am proud to take on the role as Group CCO.
In this position, I will manage key publisher relationships as we accelerate our growth journey. This acquisition is a significant step forward, and I am confident it will help us grow our business significantly and generates many opportunities for us, our vendors, and our partners.”
Thomas Kasper, MD of Prianto commented: “This merger will unite two complementary firms, each possessing extensive expertise in customer service and industry knowledge. This collaboration enables us to enhance our market presence effectively. In this new configuration, our customers will benefit from a broader portfolio of vendors, enhanced services, and innovative solutions. I am excited to embark on this journey with the combined team.”
The agreement is expected to formally complete at the end of February 2025.
Advisers were CMS, RSM for QBS, and NeoMerge and Watson Farley & Williams – International Law Firm on the sell side.
