The market for IT services in the countries currently served by ProData Consult totals around DKK100bn with underlying annual growth rates of 3%-5%. The group operates within the areas of freelance consultancy services and ‘nearshoring’, which are currently seeing progress and furthermore contribute to reducing the company’s sensitivity to economic cycles.
”We have been keeping an eye on ProData Consult’s development and their approach to the market during a longer period, convincing us that the company has a large development potential. We will do our part to support the growth and generate an even stronger business by leveraging our experiences and strategic knowhow from other growth companies, focusing on systematizing sales and strengthening processes and systems,” says Jan Johan Kühl, managing partner at Polaris.
The acquisition follows fast growth for ProData Consult. Business grew 30% in 2017, with revenues of DKK910m based on the company’s core business of providing high-end business and IT consultants to a series of acknowledged clients, in particular within financial services. ProData Consult’s Polish ‘nearshoring-as-a-service’ solution (‘NaaS’), which provides Scandinavian clients access to Polish IT consultants with specialist competencies, grew 40% last year.
”We have more than doubled revenue in ProData Consult over the course of the last three years, and we have simultaneously been able to expand our business and improve client satisfaction. We see great opportunities ahead in our markets. We also see great prospects. We have had a good and thorough dialogue with Polaris and are looking forward to drawing on their extensive experience from similar growth companies in a partnership aiming to further professionalize the company and fully releasing the potential in the coming years,” says Søren Rode, CEO of ProData Consult.