CDW To Acquire Sirius Computer Solutions For $2.5 Bln Cash - Quick Facts

(RTTNews) - CDW Corp. (CDW) announced Monday it has entered into a definitive agreement to acquire Sirius Computer Solutions, Inc. from an affiliate of Clayton, Dubilier & Rice or CD&R, for $2.5 billion in cash, subject to customary closing adjustments.

The transaction is expected to significantly accelerate CDW's services and solutions capabilities and further enhance CDW's ability to solve customers' increasingly interconnected and complex technology challenges.

The combined company would have had 2020 net sales of $20.5 billion and the acquisition is expected to deliver gross margin, adjusted operating income (NGOI) margin, and adjusted earnings per diluted share accretion.

Sirius is a leading provider of secure, mission-critical technology-based solutions for approximately 3,900 large and mid-sized customers.

The transaction will meaningfully broaden CDW's services portfolio and is expected to expand CDW's Services portfolio by approximately 45%, from approximately $900 million annual net sales in 2020 to approximately $1.3 billion in 2021.

The transaction is expected to close in December 2021, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions. CDW has committed financing for the transaction.