Destiny acquires IT101 and Meritel to achieve its growth objectives
Brussels, 1 December 2017 - Destiny, the provider of cloud communications solutions for innovative companies, has taken over IT101 and Meritel. These two acquisitions form part of the company’s growth ambitions, which are focused on sales of fifty million euros in the short time and a presence in a number of countries.
With the Destiny cloud interaction platform, companies can communicate more effectively, irrespective of location and device, because telecommunications and IT are seamlessly integrated with the underlying architecture. Destiny offers highly flexible and scalable solutions, perfectly tailored to customers’ current needs and modular so as to meet their future needs.
Digital communication (VoIP, e-mail, internet, cloud applications) via different devices (laptop, smartphone, tablet) demands more effective data security than ever. The acquisition of IT101 therefore makes logical sense: the company has years of experience in the area of cloud security. At present, more than 160,000 users in ten countries depend on IT101 cloud security solutions. Moreover, the company is a perfect fit with Destiny in the areas of the customer portfolio, strategic vision and internationalisation. IT101 also wants to make this technology available to customers and partners in a simple and predictable way.
"IT101’s knowledge has strengthened our proposition internally," says Daan De Wever, Destiny’s CEO. “Security has become a very important element in our sector, and we can offer our customers an even completer service package with this acquisition”. Christophe Reynaert, CEO and founder of IT101, also sees the acquisition as an enormous opportunity: “Destiny has a truly unique platform which improves accessibility and scalability for customers by means of telecommunications and IT. We are completing the picture with our knowledge and experience”.
The Meritel acquisition is of a different nature. Meritel is a B2B telecom service provider which has been operating for many years in the Belgian market and has a large customer base of small and medium-sizes enterprises. SMEs can now switch from traditional telecommunications to the Destiny cloud platform.
“Destiny can offer these customers new tools and solutions, so that they are even better prepared for the digital challenges of tomorrow,” Daan De Wever explains. Meritel’s CEO Bart De Keyser also recognises that his customers need flexible and scalable cloud communications solutions. “Meritel offers its customers connections at a high level and advanced data centre services. We are happy that we can add our services to the Destiny cloud interaction platform. Our customers can therefore benefit from an integrated solution with flexibility and scalability as the most important advantages,” says Bart De Keyser, Meritel’s CEO and co-founder.
With these two acquisitions, Destiny’s turnover rose to €28 million, with an EBITDA of 20% it therefore almost doubled in 12 months. But the company is not planning to stop there, because it recently established contacts abroad and identified some opportunities. The goal is to achieve a turnover of fifty million euros in the short term and to be physically present in various countries.
And these outstanding results did not go unnoticed by some observers. Some weeks ago, Destiny received first prize in the ‘Most sustainable growth’ category of the Deloitte Fast 50 Award.
Destiny, founded in 2008, is a provider of cloud communications solutions, focusing mainly on innovative enterprises. With a staff of 100 and an expected annual turnover of 22 million euros at the end of 2017, the telecom company is expanding into the fastest-growing B2B telecom player in Belgium. Using the Destiny cloud interaction platform, companies can communicate more efficiently from any device and from anywhere, thanks to the seamless blend of telecom and IT in the underlying architecture. As a result, Destiny offers highly flexible and scalable solutions which are a perfect match for the customer’s current needs and which can also be tailored to future needs.
Destiny’s in-house network guarantees speed and advanced service for more than 2,700 professional customers, including reputable companies such as Katoennatie, Cevora, McDonalds, Standaard Boekhandel, Ecover, ZEB, Antargaz, Gabriels and Würth.