IT company buys Dutch firm

Crimsonwing has entered into a share purchase agreement for the acquisition of the total share capital of VDA Informatiebeheersing BV, a Dutch IT Software and Services Business for a total consideration of €1.9 million (Lm0.82 million), Crimsonwing said.

Based in Hilversum, the media centre of the Netherlands, VDA is an IT services provider that has been operating for the past 16 years.

Its client set is largely in the media and publishing sector.

VDA is a Microsoft Dynamics partner and generates substantial revenues from licences and maintenance of its proprietary ERP solutions for public broadcasters, publishing companies and newspapers.

With annual revenues of €3.4 million (Lm1.46 million), VDA is a well-established business with many prestigious clients. Already having two businesses (Crimsonwing BV and Crimsonwing Promentum BV) in the Netherlands, Crimsonwing will now combine these three operations to give it a stronger local base and brand image, the company said.

This acquisition will drive improvements in profitability and provide new opportunities across the combined client.