Infinigate has a “clear goal” of achieving global coverage, its CEO said, despite acknowledging that the European downturn hit its fiscal 2024 numbers.
The Switzerland-based, Bridgepoint-backed VAD posted revenues of €2.3bn in its year to 31 March 2024, up 5% on the €2.2bn it hauled in the previous year.
It is targeting revenue of €5bn by its fiscal 2028 (in last year’s results statement, it stated the same target, but for 2027), CEO Klaus Schlichtherle said.
Infinigate’s revenues virtually trebled in its previous fiscal 2023 year on the back of its blockbuster acquisitions of Nuvias, Vuzion and Starlink (the latter of which catapulted it into the Middle East).
While Starlink grew 26% in fiscal 2024, Infinigate grew at a “slower rate” across Europe due to the slowing economy.
“Infinigate’s clear goal is to achieve global coverage,” Schlichtherle said.
“Over the year ahead, Infinigate will expand both organically and acquisitively, widening its EMEA footprint and building on its unique offering, centred on cybersecurity specialism, as a trusted advisor to channel partners.”
Counting Fortinet, Juniper Networks, Check Point and Sophos among its vendors, Infinigate generates over 70% of its sales from software.
Infinigate in April unveiled former Capita executive Marcus Meloni as CEO Europe, claiming the role would be “central to the continued growth of Infinigate’s European business”.
Infinigate’s annual results statement comes after closest peer Exclusive Networks broke the €5bn sales mark in its latest year.
