Dallas-based CompuCom Systems to acquire North American operations of Getronics

by PegNews wire

DALLAS — CompuCom Systems, Inc., a leading North American-based IT outsourcing company, today announced that it has entered into a definitive agreement to acquire the North American operations of Getronics, a global provider of IT services. The combined entity would have had pro-forma 2007 revenues of approximately $2.1 billion.

Photo not provided by CompuCom, Getronic

After the sale, the firm's shareholders were told to "get down tronic"

CompuCom is acquiring Getronics’ activities in North America, consisting of the operations in the United States, the operations in Canada and the certified Global Service Centre in Mexico, for a combination of cash and equity issued by CompuCom. As a result of its receipt of CompuCom stock, Getronics will become a minority equity owner of CompuCom. AlpInvest Partners NV is providing mezzanine financing for the transaction and will be a minority equity investor going forward. Court Square Capital will be investing substantial additional equity into CompuCom to facilitate the transaction.

CompuCom and Getronics also announced that they have agreed, upon consummation of the transaction, to enter into a global strategic partnership agreement whereby clients who wish CompuCom to deliver workspace management services outside of its core North America footprint can contract with CompuCom for a global delivery solution which utilizes the Getronics’ NV service delivery network in Europe, Latin America and Asia. CompuCom will be the North American preferred provider for Getronics’ NV clients looking for quality service delivery in North America.

“The acquisition of Getronics North American businesses significantly expands our penetration into the Fortune 500 client base for workspace management IT Outsourcing services,” said James Dixon, Chief Executive Officer of CompuCom. “CompuCom has had significant historical success in integrating strategic acquisitions and we are excited about welcoming the Getronics associates to CompuCom and presenting the combined expertise to our clients and partners worldwide,” added Dixon.

Source: CompuCom Systems