Infinigate Group has posted ‘record results’ for its financial year ending 31 March, claiming that it plans to continue an aggressive M&A strategy.
The distributor’s annual revenues were €813 million which was 26 percent up on last year and means the group is well on the way to making its €1.5 billion revenue target for 2024.
The Swiss VAD started the year strongly with its acquisition of French distributor D2B Informatique.
It said the buy was a “significant step” in its “aggressive” expansion strategy across EMEA as well as its plan to extend its market reach and consolidate its position as the “leading” distributor of cybersecurity solutions and subscriptions in the region.
In February Infinigate’s CEO, Klaus Schlichtherle told CPI the distributor’s priorities for the year included expanding its footprint into new EMEA countries and continuing to focus on the SMB market.
This financial year announcement coincides with a record first quarter for the cybersecurity specialist, which now has 80 percent of its revenue from subscription-based services, it claims.
“A steadily rising number of partnership deals with multinational industry-leading cybersecurity software vendors means we are able to offer our customers more choice and helps us become the leading choice for cloud security vendors looking to boost their sales across the region.”
As part of its expansion, Infinigate says it has also rapidly grown its team, reporting a ten percent rise in its headcount since March last year.
