Sweden-based reseller Dustin has made two acquisitions in as many days, snapping up the hosting business of Danish Microsoft Dynamics partner Norriq and buying out Dutch VAR NoRisk IT.
Based in Denmark, Norriq is a 300-employee-strong Microsoft Dynamics consultancy operating from 11 offices in seven countries.
The deal will see Dustin acquire Norriq's hosting and IT outsourcing operations in Denmark, consisting of 30 employees.
The business arm turned over DKK 56.7m (€7.6m) in 2016 and its addition is expected to have a "marginal impact" on Dustin's earnings per share for its current financial year. The acquisition will strengthen Dustin's footprint in Denmark's SMB space, while Norriq will benefit from selling its ERP solutions to the €980m-turnover reseller's existing customer base.
"We acquire core competencies within hosting solutions and expand our supply in the Danish market," said Jens Haviken, VP of services and solutions at Dustin.
"At the same time, we get a strategic partner in Norriq, which can help us grow our company with subscription solutions. Now we have strong hosting offers in several markets - something that is becoming more important for our customers."
The deal is expected to close on 29 September this year.
Dustin has simultaneously acquired Dutch value-added reseller NoRisk IT, based near Groningen in the north of the country.
NoRisk will become part of Vincere Groep, a €67m-turnover reseller acquired by Dustin when it made its debut in the Dutch market last year.
Founded in 2006, NoRisk claims to focus on managed services, turned over €9.5m in 2018 and employs 38 staff. It will continue to operate under its own name "until further notice", with its CEO remaining at the head of the company.
"As part of Dustin, we are given new opportunities to continue expanding. NoRisk has a strong position within the healthcare sector, where we have been looking for potential acquisitions to strengthen our offering. We also become market leaders in the northern part of the Netherlands," said Henk Makaske, EVP of SMB and LCP at Dustin Netherlands.
Dustin secured a SEK 700m (€66.5m) M&A war chest from existing shareholders to fuel expansion in its existing markets. Its largest shareholder - Axel Johnson AB, which owns 25 per cent of the reseller - threw its support behind the initiative.
The reseller's M&A spree follows a €65m deal to acquire Vincere Groep in the Netherlands, its first foray into the Dutch market.
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