CDW acquires MSP, IT solutions provider Sirius Computer
This is the number 650 tech M&A deal that ChannelE2E has covered so far in 2021. See all tech M&A deals for 2021 and 2020 listed here.
Sirius, founded in 1980, generated net sales of $ 2.04 billion in 2020, the seller said in the mergers and acquisitions announcement. The company has approximately 2,600 employees who support approximately 3,900 large and medium-sized customers.
Sirius’ catalog of IT services and solutions covers hybrid infrastructure, security, digital and data innovation, and cloud and managed services, the seller said.
Sirius will expand CDW’s service portfolio by about 45%, from about $ 900 million in annual net sales in 2020 to about $ 1.3 billion in combined annual net sales, CDW predicted.
CDW, founded in 1984, has 10,500 employees. For the 12 months ended June 30, 2021, CDW generated net sales of approximately $ 20 billion, the buyer said.
CDW acquires Sirius: management outlook
In a prepared statement on the deal, the CEO of CDW Christine A. Leahy said:
âAs customers require increasingly complex and critical digital transformation initiatives, Sirius’ broad portfolio of world-class technology solutions and service-oriented approach will immediately add to our capabilities to respond to this application. The combination of our businesses will accelerate progress on our three-pronged growth strategy by expanding our portfolio and improving our ability to deliver customer-centric results across the technology solution stack and lifecycle. We look forward to welcoming the talented Sirius team and leveraging our shared values ââand unparalleled collective expertise to deliver the best customer experience and create value for CDW shareholders.
Addition of Sirius CEO Joe Mertens:
âToday is an exciting day for Sirius. We have long admired CDW and welcome the opportunity to bring our complementary services and solution capabilities to serve a broader market of customers as a combined company. Sirius and CDW share common values ââand a culture of performance and customer focus. We look forward to the opportunity to combine the considerable talents of Sirius with those of CDW, and to be part of a larger and stronger organization that will be even better positioned for growth in the evolving landscape of IT services and solutions.
CD&R partner concluded Stephen Shapiro:
âSirius is a strong company with a talented team that delivers compelling technology solutions to its customers. We are proud to have supported the growth of the company and wish them continued success in the future.
CD&R holds majority stake in Sirius since 2019. The sale of Sirius to CDW is expected to close in December 2021.
CDW and Sirius: previous acquisitions of IT services
CDW and Sirius both have mergers and acquisitions experience. For example: