Altium buys Netherlands-based reseller Transfer BV

Based in the Netherlands, Transfer BV, covers the regions of Belgium, Netherlands and Luxembourg. Altium will leverage the capabilities of Transfer BV with Altium’s direct transactional sales model to drive future growth in Northern Europe. Altium’s CFO, Mr Joe Bedewi welcomed the acquisition of Transfer BV, commenting “We are extending our direct reach into Northern Europe to sell directly in the Netherlands, Belgium and Luxembourg. Altium is pleased to have the highly capable and strongly motivated Transfer BV team join our direct sales force to lead our sales in Northern Europe. Transfer BV will implement Altium’s successful direct transactional sales model that has proven success in the Americas and the DACH region of Europe (Germany, Austria and Switzerland).” “This is an exciting development for us” said Transfer BV’s CEO, Mr Peter de Ruiter. “Our vision for the PCB industry has always been aligned with Altium and we look forward to driving sales growth strongly in Northern Europe and putting Altium’s leading-edge PCB design tools into the hands of engineers.” The acquisition of Transfer BV involved consideration including a combination of cash and an earn-out structure, based on sales performance for the next three years. No further financial information has been released.