UK-based software distributor QBS Technology Group has promised more M&A in 2023 after making a majority investment in Turkish VAD InfoNet.
The deal forms part of its expansion into META (Middle East, Turkey and Africa) and drive to become a $1bn business by 2030.
Having acquired French distributor Siener Informatique in 2019 and Germany’s Compuwave in 2020, London-based QBS’ revenues hit £142.1m in its year to 31 March 2022.
Of that total, the UK generated £82.6m, with overseas units bringing in £59.5m.
With offices in Istanbul and Ankara, InfoNet has 32 staff and vendor ties with the likes of Allot, Check Point, EfficientIP, Firemon, ForcePoint, Ipswitch / Progress, Indeni, RSA and Trend Micro.
“Turkey has been on our radar for some time, but finding a company with the right fit was of utmost importance,” stated QBS CEO Dave Stevinson.
“With InfoNet, we have an established and successful distribution business with a large customer network and best-in-class products, as well as a very experienced management team and exceptionally strong technical competency.”