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Cagnazzi will become CEO of Presidio but other changes to the existing BlueWater and Presidio teams aren't expected, he said.
One of the things that impressed him about Presidio, Cagnazzi added, was that it has retained much of its original management team and also the former top executives of the many solution providers it has acquired.
Ben Patz, former CEO of Coleman and current Presidio COO; Rudy Casasola, president of the original Presidio and currently Division President, Presidio Mid-Atlantic; Robert Murphy, former president of NIS and currently Division President, Presidio Northeast; Dave Hart, Presidio CTO and a former senior executive at NIS; and Mark Hilz, former CEO of INX, are among many such executives still with the company, he noted.
"You have all these teams still in place, still driving business and still providing value to the clients," he said. "This is something that Presidio has done really well throughout the years."
Cagnazzi said BlueWater had been approached by potential M&A suitors on a number of occasions recent years, but Presidio was an option that presented "a lot of strategic alignment." Talks began between the two solution providers several months ago, he said.
Representatives for Presidio were not immediately available for comment late Tuesday.
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