Acquisition Expands PCM UK Vendor Accreditations and Service Capabilities
EL SEGUNDO, Calif., Sept. 25, 2017 (GLOBE NEWSWIRE) -- PCM, Inc. (NASDAQ:PCMI), a leading technology solutions provider, today announced that its U.K.-based subsidiary, PCM Technology Solutions UK, Ltd. (PCM UK), has acquired Stack Technology Holdings, Ltd (The Stack Group). Founded in 1979, The Stack Group are highly regarded specialists in the selection, implementation and management of leading IT solutions, with offerings encompassing all aspects of cloud, security, virtualization, data services, unified communications, and infrastructure. With its headquarters in Liverpool along with two accredited cloud data centers, The Stack Group delivers leading edge technologies and services to clients throughout the U.K.
PCM UK’s acquisition of The Stack Group will further enhance its expertise and vendor accreditations within the hybrid cloud, networking, security, data management, and digital workplace segments, enabling PCM UK to provide further consultancy, integration and supply of solutions from the world’s leading brands including, Cisco, Citrix, Dell/EMC, Fortinet Meru, NetApp, Nutanix, Sophos, Veeam, VMware, Ubiquiti Networks, Zerto and others.
“The acquisition of The Stack Group is a key milestone for our new UK segment to further support our clients’ needs in the services and solutions market,” added Frank Khulusi, Chairman and CEO of PCM, Inc. “As a leading provider in North America, we continue to look for ways to accelerate market share gains and this acquisition will allow us to expand upon our offerings not only to new customers in the U.K. and European markets, but also to our global customers based in North America. We are pleased to welcome The Stack Group team to the rest of the PCM family and look forward to jointly providing world class services and solutions to our clients across the globe.”
The Stack Group will also enable PCM UK to accelerate the growth of its managed services and multi-lingual global service desk within the European region with additional services including accredited UK-based datacenter facilities delivering a full range of data center and cloud solutions, remote management and monitoring, fully managed datacenter infrastructure, managed collaboration and unified communications, 24x7 shared support desk and outsourced help desk services, project management, service delivery management and other managed services.
“Our continued investment into the UK organization allows us to extend our existing service offerings within North America to our European-based clients,” noted Donavan Hutchinson, Managing Director, UK & International for PCM UK. “This strategic investment is in line with our global strategy to provide high levels of customer satisfaction by delivering bespoke solutions to meet our clients’ needs. I am excited to work with the team at The Stack Group given our strong cultural fit and motivation to integrate our product portfolios and offerings to mutual and net new clients that will allow us to accelerate our business as a true global solutions and services provider.”
Steve Cobham, Managing Director for The Stack Group commented, “We are delighted and excited to be joining the PCM family. The acquisition allows us to build on Stack’s renowned service heritage and enables us to expand and grow our offerings to not only existing clients but also to the PCM client base.”
Stack had total revenues of approximately £2.9 million for fiscal year ended March 31, 2017. PCM currently expects this strategic acquisition will initially have an immaterial effect on its bottom line and will address any related questions at its next earnings conference call.
PCM, Inc., through its wholly-owned subsidiaries, is a leading multi-vendor provider of technology solutions, including hardware, software and services to small, medium and enterprise businesses, state, local and federal governments and educational institutions across the United States, Canada and the United Kingdom. We generated net sales of $2.3 billion in the twelve months ended June 30, 2017. For more information, please visit investor.pcm.com or call (310) 354-5600.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements regarding our expectations, hopes or intentions regarding the future, including but not limited to, statements related to the impact of the acquisition on our business, operations and earnings, our ability to further enhance our expertise and vendor accreditations, our ability to provide further consultancy, integration and supply of solutions from the world’s leading brands, our expansion of offerings to new customers in the U.K. and European markets and global customers in North America, our ability to accelerate the growth of our managed services and multi-lingual global service desk within the European region and our ability to accelerate our business as a true global solutions and services provider. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause our actual results to differ materially include without limitation risks and uncertainties related to the following: risks associated with acquisitions and investments, including the challenges and costs of closing, integration, and achieving anticipated synergies expected from the acquisition; our ability to attract and retain key employees; our ability to receive expected returns on changes in our sales and services organizations or strategic investments, including without limit, investments in advanced technology solutions and services, our call centers and our international expansion; decreased sales related to any of our segments, including but not limited to, potential decreases in sales resulting from the loss of or a reduction in purchases from significant customers; increased competition, including, but not limited to, increased pricing pressures which affect our pricing strategy in any given period; our loss of personnel to competitors; the effect of our pricing strategy on our operating results; warranties and indemnities we may be required to provide to third parties through our commercial contracts; data security; and our lack of experience operating in the United Kingdom and Europe. Additional factors that could cause our actual results to differ are discussed under the heading "Risk Factors" in Item 1A, Part II of our Form 10-Q for the year ended June 30, 2017, on file with the Securities and Exchange Commission, and in our other reports filed from time to time with the SEC. All forward-looking statements in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statements.