Projective consolidates its position in the Netherlands with the acquisition of ProDone

Antwerp, Belgium - 14 June 2012

Today Projective announced that it has completed the acquisition of competitor ProDone in the Netherlands. Prodone specialises in project management for the financial services industry and carries out projects in retail banking, investment banking, and capital markets.

The transaction marks an important step in Projective's growth strategy, aimed at establishing the company as the uncontested authority in independent project management for the financial services sector. Under this strategy, the company will expand its presence to all major European markets and double in size by the end of 2014 while staying true to its philosophy of employee empowerment and transparent corporate governance.

With this acquisition, Projective now has close to 20 employees in the Netherlands with wide-ranging experience in financial services all actively working on projects at major Dutch financial institutions. "ProDone is a group of highly talented individuals and we are excited they are joining our team," said Stefan Dierckx, founder of Projective. "This transaction boosts our growth agenda and gives us real critical mass in the Netherlands," he added. "The combination of our client lists in the Netherlands results in a considerable extension of our footprint in the Dutch banking industry. In addition ProDone’s resources will broaden our knowledge base and will not only support our Dutch expansion but will also help with assignments in the UK, Belgium, Switzerland, etc. "

"We soon realised that we shared Projective’s mindset and agenda and we're looking forward to establishing our combined entity in the Netherlands as an authority in the sector," said Robert Beverwijk, ProDone’s founder. "Joining forces gives us the opportunity to set the standard for project management in banking and insurance firms."

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