QBS Software has announced a Turkish acquisition, even as the ink dries on its transformational Prianto deal.
The London-headquartered outfit has grabbed Istanbul-based Elmer, which bills itself as the country’s largest dedicated enterprise software distributor.
News of the deal comes just a month after QBS completed its acquisition of pan-European software VAD Prianto in a move that propelled its recurring revenues towards $600m.
Elmer marks QBS’ second Turkish purchase after it gobbled InfoNet in May 2023 (or strictly speaking its third, factoring in Prianto’s local Turkish entity).
Adding in Elmer’s 100 “loyal reselling partners”, QBS claims it now serves around 1,000 resellers in the country.
QBS CEO Dave Stevinson last week confessed in the wake of Pax8’s explosive New York Times advert to “never feeling comfortable with the term distributor to define us”.
QBS, which brands itself as a “software delivery platform”, said it will synchronise the platforms to offer Elmer’s client base the entire 12,000 publishers available in the QBS library within 90 days.
The Elmer purchase is designed to bolster its presence in META (Middle East, Turkey and Africa) and aid its goal of reaching $1bn sales by 2030.
Elmer was founded in 1998 by CEO Oguz Ulker and three other electrical engineers at ODTU, Middle East Technical University.
“It is so pleasing to join forces with Dave and his team at QBS who do exactly the same as we do but on a much larger scale,” Ulker stated.
“I look forward to helping him take it to the billion dollars and beyond.”
