UK’s largest reseller/services outfit Computacenter has written a $90 milion cheque for the US outfit FusionStorm.
The move is part of a much rumoured push by Computacenter over the pond. Computacenter will pay an initial cash consideration of $70 million and up to an additional $20 million in differed payments for the San Francisco-based firm. It will also contribute $45 million to refinance FusionStorm’s existing facilities.
Computacenter CEO Mike Norris said the move would boost its ability to serve international customers and extend its reach into the US market.
Computacenter launched into the US in 2017 and it said the FusionStorm deal will boost its US headcount by 50 percent.
FusionStorm CEO, Dan Serpico is cleaning out his desk and handing the keys to the executive drinks cabinent to Computacenter US CEO Mike Keogh over the coming months.
Norris added: “This transaction broadens our capability to serve our international customers and should enhance our existing customer offer and reach into the US marketplace, whilst providing an opportunity to improve the long-term prospects for the employees of FusionStorm and Computacenter US.”
Serpico said: “Computacenter, as one of the leaders in our marketplace, offers an exciting opportunity for our employees as well as security, range of services and international coverage for our clients and partners. Out of many potential suitors, Computacenter stood out for their great cultural fit and I am very proud that we can start the next step in our company’s journey as part of this great business.”
For the year ending 31 December 2017, FusionStorm reported turnover of $595 million with a profit before tax of $3.9 million.
Computacenter however said that this profit number includes $5.2m of interest costs, which it expects to “materially reduce” as a result of the refinancing.
