QBS Technology Group is “firmly on track” to achieve its goal of hitting $1bn revenue by 2030, its CEO told IT Channel Oxygen as it unveiled its latest acquisition.
The London-based software distributor today announced it has acquired 85-employee, South Africa-based cybersecurity VAD Maxtec.
This follows on from its inaugural expansion into META (Middle East, Turkey and Africa) last June, when it grabbed Turkish InfoNet.
“Almost a third of the way to $1bn”
“Our goal is to successfully deliver $1bn worth of software in 2030,” QBS Technlogy Group CEO Dave Sevinson told IT Channel Oxygen.
“With Maxtec in South Africa now on board, we’ve already covered almost a third of this journey. Our progress indicates that we’re firmly on track to achieve this milestone on time and in full.”
Recent research from Gartner indicates that the market for application software to enterprises is anticipated to grow with a CAGR of 14% over the next five years, Stevinson noted.
“So we have tailwinds, great technology, and I am backed with 250 amazing colleague,” he said.
Maxtec is “deeply integrated” with the region’s largest resellers and system integrators, QBS claimed.
“Our publishers want access to this region”
Partnering with the likes of Docusign, Smartsheet, Sharegate, Delinea, TeamViewer, Miro and Tricentis, QBS ranked 13th in IT Channel Oxygen’s 45 Must-Know UK IT Distributors 2023.
“Our ambition is to be a global company with a strong presence across META – Africa by default – is an essential component of any EMEA business,” Stevinson said.
“Our publishers want to access this region – it is fast growing and has the specific criteria we need with mature partners accessing very large enterprises and government depts who need enterprise software.”
