Destiny, a Belgian provider of secured cloud communication solutions, has acquired French telecom provider OpenIP. Through this acquisition, Destiny expands its Europan presence into France. With OpenIP, Destiny can now offer a total solution for cloud services in the French market, including connectivity, security, UC and VoIP.
Destiny combines a cloud services distribution platform with a portfolio of value-added and local connectivity solutions that would meet the needs of SMEs and large companies.
OpenIP was founded in 2005 by Laurent Silvestri and is a unified communications provider with a 100% indirect market approach. OpenIP manages a wide range of services hosted on a multi-data center backbone cloud infrastructure. OpenIP provides its network of more than 1,300 IT and telecom integrators and partners with an e-business platform to sell, implement, support and invoice IT, telecom and cloud solutions.
With the acquisition of OpenIP, Destiny has grown into a company with more than 300 employees spread over offices in Belgium, the Netherlands and France. It is adjusting its forecast turnover for 2019 to more than 80 million euros. Laurent Silvestri is appointed as a member of the management team of the Destiny Group.
“This is another great next step in the international expansion of Destiny,” said Daan de Weaver CEO of Destiny. “The collaboration with OpenIP gives us the opportunity to accelerate our growth in the coming years in order to realize our ambition to reach a turnover of 200 million Euros within three to five years. We want to be a leader in the markets where we are present and are also looking at additional acquisitions in the French market. However, we are not growing to grow. We are strengthening each other’s offerings, can learn a lot from each other and are joining forces to realize our ambition of becoming a leading player in Europe in the field of secure cloud communication solutions.”
Investment by Apax Partners
“The alliance with the Destiny group and the support of Apax Partners allow us to accelerate our development in the French market,” said Laurent Silvestre, CEO of OpenIP. “The natural synergies between our two companies, the chemistry between the teams and the strength of the group together are a real asset in order to be able to fully respond to the digitization of corporate telecommunications.
This international step follows shortly after the recent entry of Apax Partners as a new investor in the Destiny group. This French investment fund with extensive expertise in telecom, both in France and internationally, was attracted to accelerate the international expansion and continue the company’s active acquisition strategy.
“Destiny is taking its first step in the French market at the right time,” said Thomas de Villeneuve, partner at Apax Partners. “There are currently enormous opportunities, as many companies still use traditional telephony systems. France is still in the start-up phase of the cloud transformation and with OpenIP, Destiny is strong enough to take the lead in this.”