Pax8 announced the acquisition of TVG, the Baltics cloud services distributor, to expand its operations in Latvia, Lithuania and Estonia.
Based in Riga, Latvia, TVG has operated in the Baltic States for over 20 years and serves over 1,000 EMEA partners.
Pax8 CEO John Street said increasing market share in Northeastern Europe is part of the company’s goal of securing a larger share of the total addressable market ( TAM) growing cloud services.
“Gartner predicts that end-user spending on public cloud services will reach $ 482 billion (€ 427 billion) in 2022,” he said.
“Now more than ever, it’s critical that businesses migrate their technology to the cloud to keep pace with changing market demands.
He added: “This acquisition allows Pax8 to expand into the Baltic States to offer its partners access to its award-winning market, training and localized support.
“Together, we enable partners around the world to capitalize on market opportunities with cloud technology and drive digital transformation. “
TVG is an authorized Microsoft CSP indirect vendor, along with its other major vendors, including Adobe, Corel, Altaro, TeamViewer, and ManageEngine.
“With its technology and vision, Pax8 is making an incredible impact on SMEs around the world by providing enterprise-grade cloud solutions,” said Harald Nuij, Director of Pax8 Europe.
“We are delighted to welcome TVG to provide partners in the Baltic States with access to innovative solutions, streamlined processes, professional services and comprehensive support to create robust technology stacks, delivering greater value to their customers. “
M&A drive across Europe, and the “next level” of support for MSPs
In January of last year, US-based Pax8 received a $ 96 million cash injection as part of a funding round co-led by private equity firms Catalyst Investors and Sageview Capital.
Seven months later, its EMEA coverage suddenly reached more than 40 European countries with the acquisition of Resello Netherlands-based distributor.
His CRO Nick Heddy spoke to CPI about the company’s strategy to grow rapidly across Europe and to give MSPs “the next level” of support for cloud services, which he said traditional distributors are not adept at. To do.