NEW YORK, N.Y., Feb. 2, 2016 (GLOBE NEWSWIRE) -- Presidio, a leading US-based IT solutions provider, announced today that it has closed the acquisition of the business of Netech Corporation, a privately held, family-owned, IT services and solutions integrator with revenues in excess of $325 million.
The agreement for Presidio to acquire the assets of Netech Corporation was originally announced on January 6, 2015. The combined company will deliver core offerings to customers such as design, integration and optimization of data center and cloud, network and physical security, collaboration, and enterprise networking solutions to customers in the Midwestern US. Those customers represent a broad variety of segments and industries including healthcare, government, and education.
Post-close, Presidio becomes a $2.8 billion company with 2,700 employees in over 60 offices serving more than 6,500 clients. Netech will operate as "Netech, a Presidio Company," transitioning to the Presidio brand in the next 60 days.
"We're excited about the combination as we believe the organizations share a core business model, mutual competencies, and a common culture and values," stated Bob Cagnazzi, Chief Executive Officer of Presidio. "Being sales-led with a focus on top-level engineering, having a track record of high levels of customer satisfaction, and having the ability to deliver truly useful IT services and solutions to our clients have been hallmarks of both our companies throughout the years. Netech clients will immediately benefit from Presidio's national scale and advanced solutions in cloud, cyber security, IoT and managed services. Presidio clients will also see the benefit of a greater depth of resources at their disposal in local upper Midwest markets."
The Netech acquisition will create Presidio's sixth geographic Area, becoming the Presidio North Central Area. Mark Wierenga will be North Central Area President reporting to Presidio's Chief Executive Officer, Bob Cagnazzi. As Netech's EVP of Sales and Operations, Wierenga has a long tenure with the company and is intimately familiar with its operations and business.
Presidio is a leading US-based IT solutions provider offering consulting, professional services, managed services and ITaaS. By taking the time to deeply understand how our clients define success, we architect technology solutions that address their evolving business needs. Our approach blends the credibility to deliver practical results today, with the creativity to drive the business visions of tomorrow. More than 2,700 Presidio professionals, 1,500 of which are engineers with over 5,800 industry leading certifications, are based in 60+ offices across the US. We serve over 6,500 clients through a unique, local delivery model while capitalizing on our scale as a $2.8 billion dollar national industry leader. We are passionate about driving results for our clients and delivering the highest quality of service in the industry. Presidio is owned by funds affiliated with Apollo Global Management, LLC (NYSE:APO). For more information visit: www.presidio.com.
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