Ctac

Ctac: First M&A action in realising new strategy

Ctac’s intention to acquire Purple Square management with EUR 5m revenues and 25 employees marks a first step in realising the new strategic direction of the company. The company recently communicated a growth ambition towards EUR 100-150m revenues (from EUR 83m in 2018) and EBIT margins of >8%. After an already stronger Q3 trading update, this marks another important signal and we expect that Ctac is getting in a better position for 2020. We have a BUY rating and an outdated price target of EUR 4.10. We are reviewing the investment case based on the new strategy update.

As a Business & Cloud Integrator, Ctac helps a wide range of clients in various industries to realise their ambitions. We do this by developing and implementing industry-focused solutions that respond precisely to the business processes of customers that are active in various markets. With a passion for technology and a keen eye for business processes, we work at the interface of business and ICT on a daily basis. The industry-specific total solutions for Retail, Wholesale, Manufacturing, Real Estate and Professional Services, among others, have been developed together with customers. They are based on standard software from market leaders SAP and Microsoft and other well-known technology suppliers.