Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
PC Mall, which made a key acquisition last year to boost sales and grow market share, posted a healthy increase in 2007 e-commerce sales. Web sales rose by 26.1% to $230 million.
PC Mall Inc., which made a key acquisition last year to boost sales and grow market share, posted a healthy increase in 2007 e-commerce sales.
For the year, PC Mall, No. 73 in the Internet Retailer Top 500 Guide, grew its web sales by 26.1% to $230 million from $182.4 million in 2006.
Overall PC Mall posted net income of $12.4 million on sales of $1.21 billion, compared with net income of $4 million on revenue of $1 billion in 2006. In the fourth quarter, PC Mall had net income of $4.6 million on sales of $408 million vs. net income of $1.7 million on revenue of $295.3 million in the prior year. “Our fourth quarter 2007 net sales represents the largest revenue quarter ever for our company,” says CEO Frank Khulusi.
To grow its multi-channel book of business, PC Mall in August paid $55 million to acquire SARCOM Inc., an information technology software and service provider that targets business customers. “On the heels of completing our acquisition of SARCOM in September 2007, we worked efficiently and expeditiously to begin the integration of SARCOM with PC Mall, and continued to drive our focus on sales growth and profitability,” Khulusi says.