Lens Direct is projecting year-over-year sales growth of more than 40% this year.
To expand its market share among bigger information technology buyers, CDW is purchasing Berbee Information Networks Corp. in a deal valued at about $175 million. Berbee will operate as a separate unit of CDW and maintain its current offerings.
To expand its market share among bigger information technology buyers, CDW is purchasing Berbee Information Networks Corp. in a deal valued at about $175 million.
The acquisition will enhance CDW`s offerings of advanced technology products and services, expand its customer base and help CDW capture a greater share of its customers` I.T. spending, the company says. The move also helps CDW, No. 8 in the Internet Retailer Top 500 Guide to Retail Web Sites, move further into computer services, a growth area for online computer and consumer electronics retailers.
"Our customers` I.T. challenges are increasing," says CDW chairman and CEO John A. Edwardson. "We are committed to being the single source for both core technology needs and now with this acquisition, more advanced I.T. services and solutions." Founded in 1993, Berbee’s areas of expertise and services include network infrastructure and unified communications, systems and storage, security, productivity applications, and managed services primarily on Cisco, IBM and Microsoft technology platforms.
For the 12 months ended July 31, Berbee`s revenue hit $390 million and earnings before interest, taxes, depreciation and amortization reached $22 million. Berbee has consistently grown revenue at double-digit rates for the past five years. CDW plans to double Berbee`s revenue in five years on an organic basis, the company says. As part of the transaction, Berbee`s top three executive officers, including CEO Paul Shain, have agreed to remain with and lead the business. Berbee will operate as a separate business unit of CDW and maintain its current product and service offerings, management team, staffing, operations, and locations. Based in Madison, Wis., Berbee has 11 offices and two data centers in six Midwestern states and employs approximately 800 people.