Insight Enterprises to acquire PCM in deal worth over $580 million

Insight Enterprises, atechnology company that focuses on B2B and IT capabilities for businesses, recently acquired PCM, Inc., a direct marketing company, in a $581 million deal, report sources.
For the record, PCM is a provider of multi-vendor technology offerings, covering- software, hardware, services to small, mid-sized, corporate & enterprise commercial customers. The company has expanded presence within state, local & federal governments and educational institutions, across Canada, U.S. and the U.K.
Ken Lamneck, CEO, Insight Enterprises, was reportedly quoted saying that, the company has made significant progress over the past five years. Insight has transformed its business from a value-added reseller to a renowned global solutions provider, with great proficiency in technology, he says, adding that in tandem with PCM, the company will be better positioned to capitalize on its solution area investments through the valuable addition of technical & sales resources and access to new clients in the mid-market & corporate client segments.
Glynis Bryan, CFO of Insight Enterprises, was reported to say that the company has a well-organized operating model for evaluation of acquisitions and efficient system for integration of these ventures post-closing, which has enabled the firm to well deliver on the financial commitments of acquisitions in the past years.
As Insight progresses towards the closure of this partnership with PCM, the company will deploy the best practices to deliver expected synergies in its financial outcome. The company expects that the transaction will help the shareholders substantially, Bryan added.
Steve Dodenhoff, president of North America at Insight was reported to state that the acquisition of PCM will accelerate growth of shares within four solution areas, namely- connected workforce, supply chain optimization, digital innovation and cloud & data center transformation.
By the end of 2021, Insight expects to realize annual revenue cost synergies of approx. $70 million, with more than 50% of this to be realized in the first 12-18 months, mainly related to the amalgamation of IT & delivery systems, and real estate & operational integration.
Source credits: