Munich, 1 April 2020 – Waterland Private Equity is acquiring three IT service providers in the German market: Beck et al., binary, and direkt gruppe. Together, these three companies will form a new platform serving the rapidly growing market for managed enterprise cloud services. As a provider of end-to-end solutions for both private and public clouds, the new group will offer a comprehensive range of services throughout Germany, Austria, Switzerland and beyond, thus supporting its client base of medium-sized businesses and large enterprises as they digitalise their business processes and transition to the cloud. Waterland acquires the stakes from the respective founders of the three companies, all of whom will reinvest significantly into the new group and remain on board in management positions. The parties have agreed not to disclose details of the three transactions.