EQS-News: q.beyond AG / Key word(s): Takeover
q.beyond takes over data analytics specialist productive-data
Cologne/Hamburg, 3 November 2022 – q.beyond AG is acquiring a 51% stake in the Hamburg-based company productive-data GmbH. Founded in 2008, this specialist in data analytics focuses on introducing, enhancing and operating data warehousing solutions at retailers, financial service providers and companies in the digital sector. By making this acquisition, the IT service provider q.beyond is adding a further module to its portfolio of services, increasing its proprietary value creation for cloud solutions and accessing additional growth opportunities.
New subsidiary with annual revenues of more than € 10 million
q.beyond’s CEO, Jürgen Hermann, explains: “Data is the oil of the 21st century. And data analytics is the ideal tool to process this commodity. Together with the team at productive-data, we can now support our customers even more effectively in pressing ahead with their digital transformation on the basis of perfectly refined data.” productive-data employs more than 40 internal and external experts and most recently generated revenues of more than € 10 million with its advisory services. The two parties have agreed to maintain confidentiality as to the purchase price for the company, whose operations are profitable. q.beyond has the option of taking over all the shares in the company in three further tranches by 2026.
Marc Böning, founder and Managing Director of productive-data, deliberately opted in favour of q.beyond as the new parent company: “q.beyond has a highly effective sales operation across the whole of Germany and can thus help us to significantly accelerate our growth. At the same time, our expertise in data analytics and strategy will offer genuine added value to q.beyond’s existing and new customers.” In future, the 51-year-old will systematically expand the data processing and refining business under the mantle of q.beyond.
New opportunities in fast-growing Cloud business
The takeover of productive-data will create new opportunities for q.beyond, particularly in its rapidly growing Cloud business, where quarterly revenues most recently grew year-on-year by 18%. With its own data centres within Germany and its extensive hybrid cloud expertise, q.beyond has long been one of the top addresses for SMEs in Germany when it comes to securely storing and processing data. With productive-data, the company is now taking its expertise in this field even further. Jürgen Hermann adds: “productive-data is a perfect fit for our company – in terms of its specialism, its human resources and, given its Hamburg roots, also its region.”
By making targeted acquisitions such as this, over the past two years q.beyond has already extended its expertise in forward-looking business fields such as software engineering and modern workplaces. This way, it has positioned itself even more comprehensively as a leading IT service provider for SMEs in Germany. The company honed its M&A strategy in summer 2022 to account for the change in underlying conditions. Its focus is now on businesses with marketable products and positive earnings contributions which, like productive-data, will directly strengthen q.beyond’s portfolio.
03.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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