QBS Technology Group has snapped up the South African-based cybersecurity distributor Maxtec
Established in 1986 with its headquarters in Johannesburg, the value-added distributor Maxtec spans the 16 nations that form the South African Development Community (SADC) region, and has additional operations in Kenya, Angola, and Botswana.
Incorporating the South African VAD has increased QBS’s workforce to over 250 individuals.
QBS CEO Dave Stevinson said that Maxtec was valuable for its geography, fit and buyability, even if it took two years to negotiate the deal.
“Owing to the magnitude of the enterprise, as well as the breadth and calibre of its clientele, it necessitated thorough due diligence along with approvals from numerous governmental bodies within South Africa and the SADC territory,” he said.
This is the 14th acquisition by QBS Group since its establishment in 2017, enhancing its influence in the META (Middle East, Turkey, and Africa) region and advancing its ambition to evolve into a £800 million global enterprise by 2030.
The company started in the UK, then Northern Europe with France and Germany. Subsequently, it broadened to the META region to become a genuinely international corporation.
“We’ve progressed from a nascent enterprise to a revenue of a third of a billion pounds in six years. We’re firmly on course to reach £800 million by 2030,” Stevinson said.
