Gamma has acquired DX Groep BV (“Dean One”). Dean One is a growing telecoms group based in the Netherlands.
Dean One is a business with many similar attributes to Gamma. It is largely a channel-led business, focused on products that Gamma has strong knowledge of and experience in. The market penetration and growth rates in sales of Cloud PBX in the Netherlands is similar to that in the UK, where Gamma has a track record in driving sustainable growth.
Gamma management have known the Dean One business for a number of years. It has a very similar product set to Gamma, selling Cloud PBX, SIP trunks, data products and mobile to primarily SME businesses via a network of over 500 channel partners. It employs approximately 60 people. In the year ended 31 December 2017 revenue was c. €15.8 million and EBITDA was c. €0.8million.
The Board believes that, as part of Gamma, Dean One’s growth can accelerate and that Dean One can act as a focal point through which Gamma can broaden its geographic footprint in the medium term. Gamma will also use the acquisition as an opportunity to take products which have been successful in the UK into new markets.
Andrew Taylor, Chief Executive of Gamma, commented on the acquisition “We are really pleased to announce the acquisition of Dean One. It is an ideal way for us to expand into a new geography, opening up another growth opportunity for us. We have known the Dean One team for a number of years and see the business as a very good fit. We are really looking forward to working alongside the Dean One team as we continue to grow Gamma, leveraging our experience and resources, to capitalise on the opportunities ahead.”
Klaas Bottema, co-Chief Executive of Dean One, commented “Gamma is the right home for Dean One, as we look to accelerate the success we have seen in the Netherlands. They have tremendous technical and market expertise, and a track record in building and managing the Channel. With their support, there is no doubt that we can grow more quickly and move into other markets which we don’t currently serve. We know Gamma very well and believe that this is a positive development for all involved.”
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