The acquisition will allow Pax8 to expand into the Baltic States of Latvia, Lithuania and Estonia.
Distributor Pax8 is buying TVG, a cloud services and software distributor in northeastern Europe. The acquisition will allow Pax8 to dip its toes into the Baltic States of Latvia, Lithuania and Estonia.
Gartner predicts that end-user spending on public cloud services will reach $482 billion in 2022.
John Street, CEO at Pax8, speaks to the importance of this.
“Now more than ever, it is critical that companies migrate their technology to the cloud,” said Street. “[This is] to maintain pace with the evolving market demands. This acquisition enables Pax8 to expand into the Baltic States to offer partners access to its … marketplace, education and localized support. Together, we are enabling partners worldwide to capitalize on the market opportunities with cloud technology and drive the digital transformation.”
Headquartered in Riga, Latvia, TVG company has been operating in the Baltic States for more than 20 years. It serves more than 1,000 partners. TVG’s solutions portfolio includes Adobe, Corel, Altaro, TeamViewer, ManageEngine and several other global technologies.
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“Pax8 is having an incredible impact on SMBs worldwide by empowering them with enterprise-grade cloud solutions,” said Harald Nuij, managing director at Pax8 Europe. “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.”
TVG shares Pax8’s goal to drive digital transformation and focuses on the small-to-midsize business market, said Nuij.
“The acquisition enables our partners to support global clients in more regions. [It also allows them to] empower their businesses with highly requested software solutions,” he said.