Proactis Holdings Plc (LON:PHD) is a provider of software for Spend Control and eProcurement, systems which are used by most large organisations to manage the way they transact with their supplier base. In recent years Proactis Holdings Plc (LON:PHD) has been gaining market share, within a growing market, delivering a 35% CAGR in revenues, and 62% in EPS. The trading update (Aug 22nd) confirms that progress remains positive. Meanwhile the shareprice has gained 10.4% in the last 6 months, and 664% over the last 4 years. So, is there further headroom for growth from here? In this report we argue that the acquisition of Perfect Commerce (announced July 7th) is a transformative move which takes Proactis Holdings Plc (LON:PHD) to a new level – comprehensive solution set, truly global footprint, and sufficient scale to make Proactis relevant for the ‘Tier 1’ client base. In the coming years we believe the company can sustain or even exceed its previous level of progress.
