Exclusive Networks has had a good third quarter and seen gross sales up nine per cent.
EMEA saw the biggest growth for the security outfit, reaching gross sales of €973million which is a 14 per cent increase.
The region benefitted from momentum resulting from the quality of vendor portfolio across all countries, Exclusive said.
Most of the reported growth (five per cent) was driven by business with existing vendors in their current geographies.
The remainder of the growth was mostly due to vendor expansion (three per cent), a combination of vendors entering into new geographies (two per cent) and new vendor relationships (one per cent).
CEO Jesper Trolle said: “Exclusive Networks is moving towards its mission of creating a safer world.
“In the third quarter, we made solid progress with gross sales in line with our expectations. We delivered double-digit growth in our largest region (EMEA), despite a challenging macroeconomic environment and low visibility which has seen sales cycles lengthen and return to normalised levels since the end of 2022.”
“After several years of organic growth, our strong balance sheet and excellent cash generation enable us to make the acquisition of Ingecom to broaden and deepen our offering and support our long-term growth strategym,” Trolle said.
“This strategic acquisition will enable us to expand our capabilities in innovative and disruptive technologies to complement and scale our offering of emerging and fast-growing cybersecurity solutions in our markets.
In the Americas, (13 per cent of total quarterly gross sales) gross sales were €157 million up a per cent.
The region faced a high basis of comparison in the third quarter, when it delivered sharp growth.
APAC ( eight per cent of total quarterly gross sales) saw a decline in gross sales by 14 per cent reported at €99 million.
“The trend is improving quarter on quarter and the initiatives implemented locally allowed the region to progressively improve the trend compared to the previous quarter,” an Exclusive statement reads.
