QBS Technology Group Acquires Compuwave
British specialist enterprise software delivery distributor QBS has acquired German software VAD Compuwave for an undisclosed amound. Compuwave has offices in Munich and Berlin and employs 35 people. It generated sales of €31.5 million for the twelve months ended 31 December 2018 and delivers products from a leading range of vendors including Progress, JetBrains, Teamviewer and Techsmith to over 1600 resellers, cloud service providers and system integrators. Over its 13-year history, the company has focused on non-standard software (Tier 2, 3 and 4) representing over 3800 publishers.
The acquisition will strengthen QBS’s geographic reach and further enhance its capability in the specialist software market. Customers of Compuwave will benefit from exposure to a wider range of products distributed through the QBS platform. Compuwave will continue to operate as a standalone business with both entities capitalising on the benefits of the acquisition.
Commenting on the deal, Dave Stevinson, CEO of QBS Technology Group, said: "we are delighted to announce another exceptionally high-quality addition to our European network. Compuwave represented a most compelling opportunity to acquire a fast growing and highly focused business with a strong management team– this is our third acquisition since the outbreak of Covid19 in March. With the latest release of the delivery platform, QBS Technology Group is looking forward to supporting Compuwave’s targeted growth trajectory and expansion plans."
Oliver Schnapka, Joint Chief Executive Officer of Compuwave, added: "we are proud to be joining a firm with the shared vision and history of investing in the future. The acquisition confirms our business strategy and enables us to further accelerate our profitable growth both in the DACH region and across Europe."
Holger Brunken, joint CEO and Founder of Compuwave, commented: "with QBS we now have a strategic partner who not only shares our values but also has the capability to underpin the strategy of the management team to deliver on our ambitious growth plans."
As part of the acquisition Oliver Schnapka and Holger Brunken will work in collaboration with Dave Stevinson to grow the group’s International business alongside the core markets of UK, Germany, France and the Baltic states .