Insight Enterprises to acquire PCM in $580mn deal
Insight Enterprises has inked a $580mn deal to acquire IT products and services provider PCM.
Through the purchase, Insight Enterprises wants to expand its footprint in North America and the UK.
“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,” explained Ken Lamneck, CEO of Insight.
“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.”
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With over 4,000 employees, California-based PCM has offices across the US, Canada and the UK.
Over the last 18 months it has seen steady growth, acquiring Stack Group and Provista UK.
Insight says it expects to see “annual run-rate cost synergies of approximately $70 million by the end of 2021.”
“We believe this transaction will contribute materially to shareholder value as we execute our plans,” said Glynis Bryan, chief financial officer of Insight.
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