Proact IT Group AB announced the acquisition of PeopleWare for EUR 17M.

Proact IT Group AB, a Stockholm, Sweden-based cloud service provider announced entering into an agreement to acquire PeopleWare, based Lier, Belgium.

The trasnasction was made for EUR 17M ($18.8M). The company is acquired from the founders, who will remain with the company. Following the acquisition, PeopleWare and its employees will become an integral part of Proact in the Netherlands and in Belgium.

The deal enhances Proact’s market presence in the Netherlands and Belgium and adds expertise for delivering high-growth managed cloud services into the medium sized enterprise segment.

PeopleWare, founded in 2003 and led by CEO Mark van Liempt,  is a privately held company with over 220 employees and more than 170 active customers.

Proact, led by CEO Jonas Hasselberg, is a leading independent data centre and cloud services provider. The company  employs over 800 people in 14 countries across Europe and North America and its mother company, Proact IT Group AB, is listed on Nasdaq Stockholm.