Exclusive Networks Group acquires Secureway
Regional value-added distributor continues expansion drive
Exclusive Networks Group has announced it has acquired Dubai-based Secureway Network Distributors, a security specialist value-added distributor (VAD) in the Middle East region.
The amount for the deal hasn't been disclosed, but after the acquisition, the Exclusive Networks Group's annual revenue target for 2013 has been revised to €400m.
According to Exclusive Networks, the merger creates the largest Pan-EMEA VAD of disruptive security, unified communications and infrastructure technology solutions, and presents huge opportunities for vendor and reseller partners.
"Secureway is a successful, well-run company and a good strategic fit for us, enabling access to a profitable and fast-growing group of new markets that extend our reach and stand us apart as the choice of VAD partner for vendors targeting rapid expansion across EMEA," said Olivier Breittmayer, CEO, Exclusive Networks Group. "Secureway's legacy of growth, market position and thought leadership echoes our existing culture and shares many similarities with businesses we have acquired in the past."
Secureway currently has 60 staff at subsidiaries in Dubai and Riyadh, and is experiencing good growth, says the company. "We have built a solid value business model across Middle East and this is the right time to start a new chapter in that success," said Fari Boustantchi, CEO of Secureway, who will continue his current responsibilities in the new position as regional CEO for Exclusive Networks Group's Middle East region. "We are certain the acquisition will add significant value to resellers across the region as well as to existing and prospective vendor partners."
Exclusive Networks Group has recently announced new investment to support future acquisitions, with Secureway emerging as the first of these. The company has stated its aim to make three acquisitions per year, and to reach revenues of €1bn by 2017.