Ideal Holdings (İDH) continues to further strengthen the IT sector with the acquisition of 75% of BlueStream.
It is a fast-growing Greek service provider company that offers infrastructure services both on-premises (at each client’s headquarters) and in multi-cloud environments, as well as cloud migration, data availability and outsourcing services. BlueStream was founded in 2008 offering mainly support in HW, operating systems and data availability. It is estimated that the addition of BlueStream contributes to strengthening the turnover of IDH’s portfolio of IT companies over 130 million euros in 2024 while EBITDA is seen at 17 million euros.
In particular, it is emphasized that this specific acquisition increases the rate of IDH’s technology services, contributes to achieving the goal of the management for a dynamic IT sector one stop shop with a possible independent stock market presence in the long term, strengthens the range of its technology clients with companies mainly of private sector with long term contracts and greatly improves the EBITDA margin.
BlueStream’s turnover at 11 million euros
BlueStream’s turnover amounted to 11 million euros in 2023 with EBITDA totaling 2 million euros, showing an increase of 54% and 78% respectively, compared to the previous year. For 2024, it is estimated that the company will continue its upward trajectory. The company has a healthy financial structure, no loans and sufficient liquidity.
According to the CEO of IDEAL Holdings, Panagiotis Vassiliadis, “with the addition of BlueStream, our portfolio in the IT industry is strengthened, while at the same time our companies form one of the most complete portfolios of services and solutions, effectively making IDH’s IT industry as one one stop shop in the field of technology in our country. Through the synergies created by this transaction we will offer even more integrated and innovative solutions to our customers while providing added value to our shareholders and employees.”
