Category Archives: Industry Press Releases

Insight logo


Insight Enterprises to Acquire PCM, Inc.

Expands global footprint and penetration into attractive end markets. Accelerates market share growth across Insight’s solution areas. Substantial run-rate operating synergies of $70 million.

TEMPE, Ariz. & EL SEGUNDO, Calif.–()–Insight Enterprises (Nasdaq: NSIT), the global provider of Insight Intelligent Technology Solutions™ for organizations of all sizes, (“Insight”), and PCM, Inc. (Nasdaq: PCMI), a provider of IT products and services (“PCM”), have entered into an agreement under which Insight will acquire PCM for $35 per share, representing a 36% premium to its 1-month average closing share price as of Friday, June 21, 2019. The transaction implies an enterprise value of approximately $581 million (including cash and debt acquired).

PCM, based in El Segundo, California, is a provider of multi-vendor technology offerings, including hardware, software and services to small, mid-sized and corporate/enterprise commercial clients, state, local and federal governments and educational institutions across the United States, Canada and the United Kingdom. PCM has offices in 40 locations across these geographies and has more than 4,000 teammates, including more than 2,700 client-facing teammates in sales, technical and service delivery roles.

“Over the past five years, Insight has made significant progress, transforming our business from a value-added reseller to a well-respected global solutions provider with deep expertise across technology areas that provide our clients with significant value. Together with PCM, we will be even better positioned to capitalize on our solution area investments through the addition of more technical and sales resources and access to thousands of new clients, especially in the mid-market and corporate client segments,” said Ken Lamneck, CEO of Insight.

The combination of the two organizations extends Insight’s reach into areas where clients need help most: positioning their businesses for future growth, transforming and securing their data platforms, creating modern and mobile experiences for their workforce and optimizing the procurement of technology. Together, the combined organization will be able to offer partners an even stronger salesforce globally, with increased footprints in North America and the United Kingdom.

“The acquisition of PCM accelerates our opportunity to grow share within our four solution areas: Supply Chain OptimizationConnected WorkforceCloud + Data Center Transformation and Digital Innovation. The addition of PCM complements our Supply Chain Optimization business, adding scale and clients in the mid-market and corporate space in North America. PCM’s services offerings add scale and capabilities to our Connected Workforce and Cloud + Data Center Transformation solution areas and support our strategy to grow our solutions business,” said Steve Dodenhoff, president of Insight’s North America business.[

“This combination offers the ability to provide clients with greater value through the expansive solution offerings of the combined company at a time when customers increasingly need a full-service technology solutions provider to help them transform for the future. Together, we will be able to offer an impressive level of breadth, scale, partnerships and services to meet our clients’ needs and exceed their expectations. On behalf of our Board of Directors, we are very pleased to announce this combination which we believe maximizes our shareholders’ value, and we look forward to the resulting opportunities that lie ahead for our employees, customers and vendor partners,” said Frank Khulusi, chairman and CEO of PCM.

Insight expects to realize annual run-rate cost synergies of approximately $70 million by the end of 2021, with more than 50 percent of this to be realized in the first twelve to eighteen months, primarily related to the consolidation of IT and delivery systems, and real estate and operational integration.

“Insight has a disciplined operating model for evaluating acquisitions and efficiently integrating these businesses post-closing, which has allowed us to deliver well on the financial commitments of acquisitions we have made in the past few years. As we move towards the closing and integration of PCM, we expect to deploy these same best practices to deliver the expected synergies in our financial results,” stated Glynis Bryan, chief financial officer of Insight. “We believe this transaction will contribute materially to shareholder value as we execute our plans.”

Insight expects the acquisition to add more than $0.70 to Adjusted earnings per share in 2020, excluding:

- approximately $25 million in transaction-related costs and restructuring expenses, most of which will be incurred in 2019, and
- intangibles amortization expense.

About Insight
Today, every business is a technology business. Insight Enterprises Inc. empowers organizations of all sizes with Insight Intelligent Technology Solutions™ and services to maximize the business value of IT. As a Fortune 500-ranked global provider of Digital Innovation, Cloud + Data Center Transformation, Connected Workforce, and Supply Chain Optimization solutions and services, we help clients successfully manage their IT today while transforming for tomorrow. From IT strategy and design to implementation and management, our 7,400+ employees help clients innovate and optimize their operations to run business smarter. Discover more at www.insight.com. NSIT

About PCM
PCM, through its wholly-owned subsidiaries, is a leading multi-vendor provider of technology solutions, including hardware, software and services to small, medium and enterprise businesses, state, local and federal governments and educational institutions across the United States, Canada and the UK. PCM generated net sales of approximately $2.2 billion in the twelve months ended March 31, 2019.

Contacts
INVESTORS:
Insight Enterprises, Inc.
Glynis Bryan, 480-333-3251
GLYNIS.BRYAN@INSIGHT.COM
or
Helen Johnson, 480-333-3234
HELEN.JOHNSON@INSIGHT.COM
or
PCM, Inc.
Brandon LaVerne, (310) 225-5080
Brandon.LaVerne@PCM.com
or
MEDIA:
Insight Enterprises
Amy Protexter, 480-409-6710
AMY.PROTEXTER@INSIGHT.COM
or
Sloane & Company
Ariel Kouvaras, 212-446-1884
AKOUVARAS@SLOANEPR.COM

CDW Canada


CDW Announces Agreement to Acquire Scalar Decisions Inc.

Acquisition broadens CDW Canada’s solution portfolio, deepens technical skillset and extends geographic
reach

Etobicoke, ON — January 11, 2019 — CDW (NASDAQ: CDW) today announced its agreement to acquire Scalar Decisions Inc., a leading technology solutions provider in Canada with locations across the country and trailing 12-month net sales of approximately C$250 million.

“Helping customers optimize the value of their IT investments is core to our mission,” said Chris Leahy, chief executive officer, CDW. “This strategic acquisition expands our CDW Canada solutions and services portfolio, extends our in-market presence across Canada and enhances the value that we can deliver to our customers.”

Scalar was founded in 2004 and has almost 350 coworkers serving customers across Canada. With a solutions-based approach and a reputation for solving complex technology challenges, Scalar will enhance CDW Canada’s technical capabilities and expertise in areas such as professional and managed services, infrastructure, security and cloud. The company has been widely recognized for its growth and industry leadership, receiving the prestigious Canada’s Best Managed Companies designation from Deloitte, being named one of Canada’s fastest-growing companies by Canadian Business and gaining recognition as one of the Top 100 Solutions Providers by Computer Dealer News.

“Joining CDW Canada is a huge win for our customers and our coworkers,” said Paul Kerr, president and chief executive officer, Scalar. “In CDW Canada we found shared values with a customer-first focus and a solutions-led approach.”

“We are thrilled to welcome the Scalar team to CDW Canada,” said J.D. Hupp, vice president and general manager, CDW Canada. “Together, we will continue to create value for our customers as we leverage each other’s strengths.”

The acquisition is expected to close in first quarter 2019, pending regulatory approvals. Until the deal is complete, the companies will continue to operate separately. Terms of the transaction were not disclosed. Scalar is not expected to have a material impact on CDW’s 2019 non-GAAP earnings per share.

About CDW Canada

CDW Canada is a leading provider of technology solutions for business, government, education and healthcare. Ranked the No. 1 solution provider in Canada on the Computer Dealer News Top 100 Solution Providers list for five consecutive years, CDW Canada helps customers achieve their goals by delivering integrated technology solutions and services that help customers navigate an increasingly complex IT market and maximize the return on their technology investment. CDW Canada is listed on the Financial Post 500 list and is a wholly owned subsidiary of Vernon Hills, Illinois-based CDW Corporation, a Fortune 500 company. For more information, visit www.CDW.ca.

For more information please contact: Sara Granack Vice President, Corporate Communications (847) 419-7411




Tech Data Completes Acquisition of Avnet’s Technology Solutions Business

“Tech Data announced that it has completed the acquisition of Avnet’s Technology Solutions business, creating a premier global IT distributor with unmatched capabilities and the most diverse end-to-end solutions from the data center to the living room. This winning combination provides increased capabilities and expanded reach across technologies and geographies with operations in 40 countries and the most diverse end-to-end portfolio of solutions and services.”

Read more

CDW Canada


J.D. Hupp Named Vice President and General Manager of CDW Canada

International Sales Executive to Lead CDW’s Canadian Business

Etobicoke, ON – February 23, 2016 – CDW Canada, a leading provider of technology solutions to business, government, education and healthcare, today announced that J.D. Hupp has been promoted to vice president and general manager of CDW Canada. He will report to Christine Leahy, senior vice president, international and chief legal officer, CDW Corp.

“J.D. is a highly respected leader who drove significant growth in our Canadian business during his previous nine-year tenure there as sales leader,” Leahy said. “Most recently J.D. has helped to shape and execute our international strategy, with great success. In his role as general manager, J.D. will ensure that we are well-positioned as a leading IT solutions provider in Canada to continue meeting our customers’ increasingly complex IT needs.”

As vice president and general manager, Hupp will be responsible for the strategic direction and performance of CDW Canada. He will oversee sales, services and support organizations. Hupp will develop long-term business initiatives to expand CDW Canada’s position as an industry-leading IT solutions provider.

Previously, Hupp served as director of sales for CDW Canada, where he developed successful national sales programs and established regional sales teams to enhance customer satisfaction and deliver impressive growth in the corporate, federal government, healthcare and education sectors.

About CDW Canada
CDW Canada is a leading provider of technology solutions for business, government, education and healthcare. Ranked the No. 1 solution provider in Canada on the Computer Dealer News Top 100 Solution Providers list, CDW Canada helps customers achieve their goals by delivering integrated technology solutions and services that help customers navigate an increasingly complex IT market and maximize the return on their technology investment. CDW Canada is listed on the Financial Post 500 list and is a wholly owned subsidiary of Vernon Hills, Illinoisbased CDW Corporation, a Fortune 500 company. For more information, visit www.CDW.ca.

For more information please contact:
Maxine Roy/Cindy Watson
StrategicAmpersand Inc.
(416) 961-5595
maxine@stratamp.com
cindy@stratamp.com

 

Source: Press Release

Acrodex logo


PCM Acquires Acrodex, One of Canada’s Leading IT Solutions Providers

Marks PCM’s Strategic Entry Into the Canadian Market

EL SEGUNDO, Calif., Oct. 28, 2015 (GLOBE NEWSWIRE) — PCM, Inc. (NASDAQ:PCMI) today announced that it has acquired Acrodex, Inc., a leading provider of hardware, software, services and solutions to enterprise, mid-market and public sector customers across Canada for a purchase price of CAD$16.5 million. Acrodex had revenues in fiscal year ended September 30, 2015 of CAD$147 million and CAD$225 million on an imputed revenue non-GAAP basis. Acrodex is ranked as the ninth largest solution provider in Canada according to the most recent CDN Top 100 Solution Provider list. PCM expects that Acrodex will be accretive to its 2016 earnings.

Headquartered in Edmonton, Alberta, Acrodex provides full end-to-end infrastructure solutions from initial plan and design, through procurement and installation, to full support and on-going management. The Company’s core business areas include software value-added reseller services, software asset management and hardware sales and services, including client device products, servers, storage, network, printers and a full complement of accessories and devices. Services are a significant component to Acrodex’s product mix and include managed services, cloud-based services, consulting, IT management and other IT service areas.

Frank Khulusi, PCM’s Chairman and Chief Executive Officer, stated, “Acrodex’s successful 30-year history in Canada, tenured and strong customer and vendor relationships, impressive services portfolio and revenue stream, vast array of high-end vendor technical certifications, coveted Microsoft Canada LSP status and its 445 committed and loyal employee base launch PCM into the Canadian market in a grand, formidable manner and provide us with a wonderful platform to build from and expand. For those customers with a presence in both the U.S. and Canada, the Acrodex acquisition brings us the capability to provide a one-stop shop for their IT solutions needs.”

The strategic vendor partner relationships of PCM and Acrodex line up nicely and, as result of the acquisition, are now expected to be even deeper and stronger including our relationships with Microsoft, Cisco, HP, Dell and Lenovo among many others. Almost 75% of Acrodex’s personnel are technical professionals and many of them hold the highest-level certifications from leading partners. This technical strength is a key asset of the organization and provides excellence in service and support to Acrodex’s current and future customer base.

Karim Amarshi, Acrodex’s Chief Executive Officer, stated, “We have built Acrodex into a leading technology solutions provider and are very pleased to be joining the PCM family. PCM’s extensive capabilities, vast customer and vendor relationships, sales organization size and strength, and brand equity will bring the resources to propel Acrodex to the next level.”

Jay Miley, PCM’s President, noted, “Acrodex’s strong business fundamentals, experienced management and high concentration of services revenue is an attractive opportunity for PCM. We believe the operational efficiencies gained by combining Acrodex’s footprint in Canada and PCM’s extensive organization will drive deeper presence and scale in North America.”

PCM will address any further questions regarding this acquisition at its upcoming earnings conference call scheduled for Thursday, October 29th at 1:30 p.m. Pacific Time.

Morgan, Lewis & Bockius LLP, led by Bryan S. Gadol and Randy Wood, represented PCM in the transaction. Acrodex was advised by martinwolf, a leading M&A advisory firm focused on the mid-market IT space.

About PCM, Inc.

PCM, Inc., through its wholly-owned subsidiaries, is a leading technology solutions provider to small and medium sized businesses, mid-market and enterprise customers, government and educational institutions and individual consumers. Including pro forma results from our acquisition of En Pointe in April 2015, we generated over $1.7 billion in revenue in 2014. For more information please visit investor.pcm.com or call (310) 354-5600.

About Acrodex, Inc.

Through uncompromising integrity, passion for our customers’ success, and a commitment to excellence, Acrodex has proven their ability to offer customized end-to-end IT solutions. With over 30 years’ experience in Information Technology, Acrodex serves large and mid-tier organizations through end-user device lifecycle management, data center managed services, procurement as a service, software licensing and cloud solutions.

Forward-Looking Statement Disclosure

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include the statements regarding the Company’s expectations, hopes or intentions regarding the future, including, but not limited to, expectations or statements related to the impact of the acquisition on our business, operations and earnings, the continued development and growth of the IT solutions business, our ability to achieve any level of sales or operating results, the platform the acquisition provides us in Canada and North America. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause our actual results to differ materially include without limitation the following: risks associated with acquisitions and investments, including the challenges and costs of closing, integration, and achieving anticipated synergies expected from the acquisition; the ability to retain key personnel; each company’s ability to successfully execute its business strategies; competitive conditions in the industry; delays or reductions in spending on information technology by customers; competitive pressures, including pricing and new product and service offerings; the impact of any acquisition on relationships with key customers and vendors; business cycles affecting the markets in which the companies conduct business; uncertainties relating to the relationship of the number of account executives and productivity; decreases in revenues related to sales resulting from the loss of customers; changes in our vendors products; increased competition and pricing pressures, including, but not limited to, increased competition from direct sales by some of our largest vendors; risks of decreased sales related to the potential lack of availability of government funding applicable to our public sector customers; availability of key vendor incentives and other vendor assistance; the impact of seasonality on our sales; availability of products from third party suppliers at reasonable prices; risks of business and other conditions in Canada and the limited experience of PCM’s executive management operating in the Canadian market, which could prevent us from realizing expected benefits from the acquisition; increased expenses, including, but not limited to, interest expense; our advertising, marketing and promotional efforts which may be costly and may not achieve desired results; risks related to our ability to integrate the acquisition, including but not limited to risks of IT systems integration; risks due to shifts in market demand; litigation by or against us; currency fluctuation risks and economic conditions generally. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of our Form 10-Q for the 2015 fiscal quarter ended June 30, 2015, on file with the Securities and Exchange Commission, and in our other periodic reports filed from time to time with the Commission. Acrodex sales for the periods provided herein are not necessarily indicative of the sales that may be expected for any future period. All forward-looking statements in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statements.

Contact
Genesis Select Corporation
Budd Zuckerman
303-415-0200

Source: Press Release

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CES 2015: Innovation at the Speed of Awesome!

The 2015 International CES® closed today as the largest and most amazing CES in show history, breaking all records as innovators across the show floor unveiled technology services that will solve world problems and improve lives. Owned and produced by the Consumer Electronics Association (CEA)®, the 2015 International CES closes today after running January 6-9.

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