Pax8 makes a splash with another acquisition in Europe

Pax8's buy of TVG follows its Resello acquisition and a $96m cash injection from investors last year

Pax8 has announced it will aquire Baltics cloud services distributor TVG to expand it's operations into Latvia, Lithuania, and Estonia.

Headquartered in Riga, Latvia, TVG has been operating in the Baltic States for over 20 years and serves more than 1,000 EMEA partners.

Pax8 CEO John Street said that growing market share in northeastern Europe is part of the company's goal to get a larger slice of the growing cloud services total addressable market (TAM).

"Gartner predicts that end-user spending on public cloud services will reach $482bn (€427bn) in 2022," he said.

"Now more than ever, it is critical that companies migrate their technology to the cloud to maintain pace with the evolving market demands."

He added: "This acquisition enables Pax8 to expand into the Baltic States to offer partners access to its award-winning marketplace, education, and localised support.

"Together, we are enabling partners worldwide to capitalise on the market opportunities with cloud technology and drive the digital transformation."

TVG is an authorised Microsoft CSP Indirect Provider, with its other core vendors including Adobe, Corel, Altaro, TeamViewer and ManageEngine.

"With its technology and vision, Pax8 is having an incredible impact on SMBs worldwide by empowering them with enterprise-grade cloud solutions," Pax8 MD Europe Harald Nuij said.

"We are thrilled to welcome TVG to offer partners in the Baltic States access to innovative solutions, streamlined processes, professional services, and comprehensive support to build robust technology stacks, delivering greater value to their clients."

M&A drive across Europe, and the 'next level' of support for MSPs

In January of last year US-based Pax8 received a $96m cash injection in a funding round co-led by private equity firms Catalyst Investors and Sageview Capital.

Seven months later, its EMEA coverage shot up to more than 40 European country markets at a stroke with its acquisition of Netherlands-based distributor Resello.

Its CRO Nick Heddy spoke to CPI about the firm's strategy to rapidly expand across Europe, and to give MSPs "the next level" of support for cloud services, which he claimed legacy distributors are not fit for purpose to do.