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Presidio Announces Acquisition of Netech

Presidio Announces Acquisition of Netech
 
Financial Information
  • Not Disclosed
Transaction Facts
  • New York-based solution provider Presidio announced today that it acquired Cisco networking VAR Netech for an undisclosed amount.
  • While financials were not disclosed, the press release lists Netech as having revenues in excess of $300 million. The deal will add 11 offices and 430 employees to Presidio, and create Presidio’s sixth geographic Area: Presidio North Central Area.
  • Though the transaction was announced today, it was first detailed in a media report published in December in CRN. According to the article, conversations began in August.
  • The transaction merges two leaders in the solution provider space. Netech is number 107 on the CRN Solution Provider 500 list, while Presidio is number 21.

2015 Theme: Consolidation Everywhere

  • Customer Expansion: Presidio is an established presence in the enterprise and US government space, while Netech has differentiated itself as a provider to the SMB, K-12 and higher education markets. This transaction creates cross-selling opportunities for Presidio among a relatively untapped market, while providing Netech employees with Presidio’s powerful sales and marketing engine.
  • Adding to the List: This transaction is Presidio’s latest in a string of major deals, following its November purchase of Sequoia Worldwide, a cloud consulting and integration firm, and its October sale of Atlantix Global Systems, a provider of refurbished hardware. With the support of Apollo Global Management, the company has been active in pursuing smart inorganic growth.
  • Closing the Year on a Familiar Tone: This transaction, signed on Dec. 31, capped a series of major M&A activity that has marked all of 2015. Driven by low organic growth and easier access to capital, the past year saw record M&A volume totaling more than $5 trillion, according to Dealogic.
For more information about this transaction, click here to read the press release.
martinwolf was not the advisor in this transaction.
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