Belgium-born Combell has merged with The Netherlands-based TransIP Group to create an entirely new holding dubbed team.blue.
The deal creates a new European tech unicorn, with the combined entity reaching a valuation that exceeds $1 billion.
Together, Combell and TransIP will offer a range of digital tools such as hosting, email and applications to over 1.2 million customers across Europe. In total, team.blue will employ roughly 600 people across its offices.
In the press release, Combell founder Jonas Dhaenens and TransIP's Ali Niknam are quoted as saying that team.blue "creates a new powerhouse in European tech, with a vision to create reliable, best-in-class tools and products to better enable companies and entrepreneurs to grow their businesses digitally".
Interestingly, team.blue is said to also aim to continue consolidating the market - which means likely more acquisitions and mergers down the line. This makes sense, as both Combell and TransIP have gotten to this point by making quite a few acquisitions in recent years.
Dhaenens will assume the role of CEO of team.blue and will oversee the new tech group’s vision and strategy. Niknam, who is also the founder and CEO of bunq, a European bank challenger, will remain a major investor and join team.blue's board of directors.