Exclusive Networks has added another brick to its expanding empire by grabbing a distributor in Turkey - one of the so-called "MINT" emerging economic giants.
The distributor's third acquisition in as many months, Istanbul-based Bilișimcim boasts 23 staff and works with vendors including Citrix, Palo Alto Networks, Infoblox and Nutanix.
Chief executive Olivier Breittmayer said he was attracted to Turkey because of its strong economy, which has been expanding at over four per cent annually over the last decade. Indeed, such is Turkey's economic potential that the same economist who coined the BRIC term in 2001 recently placed Turkey in a new group of emerging economic giants, dubbed MINT, alongside Mexico, Indonesia and Nigeria.
Breittmayer pinpointed Turkey as a potential acquisition destination a year ago as Exclusive begins to expand outside of its western European stronghold.
"We wanted to start 2014 the way we finished 2013: by adding to our EMEA presence," he stated in today's release. "The acquisition of Bilișimcim continues the momentum achieved in 2013, and critically provides us with a gateway into one of the most buoyant economies in the world."
Briettmayer recently said the distributor will break the €500m revenue barrier this year but, longer term, Exclusive is gunning for €1bn turnover.
"Our business is rapidly expanding," said Halil Ibrahim Arslan, general manager at Bilișimcim. "However, to push continued growth and to reach the next level of our development we required a partner with similar values that can help us to grow and evolve. Exclusive Networks Group has the expertise and the infrastructure to help us reach and serve both existing and new reseller partners. We are delighted to be working with the company to deliver added value to our region."
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