Cloudy disty Infinigate has reported a slowdown across Europe.
In a recent business update, the Switzerland-based distributor noted that it continued to expand during the financial year ending in March 2024, despite facing a challenging market influenced by the economic downturn in Europe.
The Middle East and Africa (MEA) region emerged as the highlight of the past financial year, experiencing double-digit growth and robust profit margins. Infinigate’s 2022 acquisition, Starlink, was particularly noteworthy as it exceeded market performance, achieving a 26 per cent increase in the MEA region.
The group’s strategic focus during the 2023-2024 financial year was on driving recurring revenue from software and service offerings. This strategic shift proved successful, with the company reporting a “record year performance.” Software sales constituted over 70 per cent of its total revenue, while revenue from Software as a Service (SaaS) solutions jumped by 25 per cent compared to the previous fiscal year.
CEO Klaus Schlichtherle commented, “Infinigate’s definitive aim is to secure global coverage. In the coming year, we plan to expand both organically and through acquisitions, broadening our EMEA presence and enhancing our distinctive proposition, which is centered around cybersecurity expertise, serving as a reliable advisor to channel partners.”
He further stated his anticipation of forthcoming improvements and expressed hope for achieving a revenue target of €5 billion for the financial year 2027-2028, capturing the continuous growth of the cybersecurity market, propelled by the company’s strategic programmes and initiatives.
Over the past year, Infinigate has reached significant milestones, including the seamless integration of acquired companies, an expansion of its vendor portfolio, the introduction of financial services and digital platform offerings, and its cloud platform, which generated $200 million in annual recurring revenue.
For the 2024-2025 financial year, Infinigate intends to strengthen its partnerships with corporate system resellers and global system integrators, acknowledging the significance of these ecosystems. The distributor is set to expedite the swift expansion of its SaaS business, leveraging the growing demand for cloud-based solutions.
Additionally, the company plans to enhance the value proposition of its Cloud Center of Excellence, a specialised platform designed to support and empower Cloud Service Providers (CSPs), Managed Service Providers (MSPs), and Managed Security Service Providers (MSSPs).
Infinigate has announced substantial investments to reinforce its professional services offerings.
