US reseller CDW has acquired Sirius Computer Solutions for $2.5bn (£1.8bn) from an affiliate of private equity firm Clayton, Dubilier & Rice.
The company claims the acquisition will “significantly accelerate CDW’s services and solutions capabilities” and further enhance CDW’s ability “to solve customers’ increasingly interconnected and complex technology challenges”.
Sirius has around 2,600 employees across multiple offices in the U.S. that specialise in offering secure, mission-critical technology solutions for approximately 3,900 large and mid-sized customers. It generated net sales of $2.04bn (£1.4bn) in 2020, while the combined company would have had 2020 net sales of $20.5bn (£14.8bn), CDW said.
“As customers require increasingly complex and critical digital transformation initiatives, Sirius’ broad portfolio of world-class technology-based solutions and services-led approach will immediately add to our capabilities to meet this demand,” said Christine A. Leahy, president and chief executive officer at CDW. “Combining our businesses will accelerate progress on our three-part growth strategy by augmenting our portfolio and enhancing our ability to deliver customer-centric outcomes across the full technology solutions stack and lifecycle.”
Leahy also said the acquisition of Sirius will expand CDW's services business unit by 45% from about $900m (£653m) in annual sales to $1.3bn (£943m) in combined annual net sales.
“Today is an exciting day for Sirius. We have long admired CDW and welcome the opportunity to bring our complementary services and solutions capabilities to serve a broader market of customers as a combined company,” added Joe Mertens, Sirius’ president & chief executive officer. “Sirius and CDW share common values and a performance-driven, customer-focused culture. We look forward to the opportunity to combine Sirius’ considerable talents with CDW’s, and to being part of a larger, stronger organisation that will be even better positioned for growth in the evolving IT services and solutions landscape.”
The deal is subject to customary closing adjustments and is expected to close in December 2021.
