The creation of a strong IT group with high turnover and more than satisfactory profit margins is the focus of the Ideal Holdings group (IDH) through the acquisition of 75% of BlueStream, for €12.2 million, as the group's Chairman tells BnB Daily Ideal Hodings, Lambros Papaconstantinou.

It is estimated that with the addition of BlueStream, the turnover of IDH's portfolio of IT companies for 2024 will exceed €130 million and EBITDA €17 million. The unallocated funds from the joint bond loan that Ideal Holdings issued in mid-December of last year served as the sole source of funding for the transaction.

SERVICE PORTFOLIO STRENGTHENING

In particular, Papaconstantinou explained that BlueStream has certain services that will strengthen IDH's service portfolio. The group's intention is for the technology business to operate in a complementary manner and to create synergies with existing holdings such as Byte and Adacom. As you read in BnB Daily 7/6, IDH is focusing on the IT sector, among others, looking at sub-sectors such as cyber security, software, cloud computing, and business software.

"THERE WILL NOT BE A FULL TAKEOVER."

"We are strengthening and reinforcing our presence where we are," Papaconstantinou said. The acquisition of 75% of BlueStream gives IDH the right to proceed with a full takeover; however, Papaconstantinou said he did not and will not do so. "We will follow the management model we follow every time." BlueStream's CEO, Georgios Vasdekis, will retain his position.

BLUESTREAM

BlueStream was founded in 2008, offering mainly HW support, operating systems, and data availability. Today, it is considered a fast-growing service provider, offering infrastructure services in both on-premises and multi-cloud environments, as well as cloud migration, data availability, and outsourcing services.