Presidio CEO On AWS, Cisco, M&A And Biggest IT Bets
Bob Cagnazzi, CEO of $5.4 billion Presidio, explains his investments and strategy this year with AWS, Cisco, M&A and what’s driving the most sales growth in 2023.
Can we expect any acquisitions from Presidio in 2023?
There’s still a good pipeline out there. We talk to great businesses all the time.
We built the business organically and inorganically—about 50 percent of our growth has come organically and 50 percent has come through acquisitions through the years. And we’ll continue to do that.
We’ve had great success and acquired a number of great companies. The culture that we’ve built has been one that’s really welcoming to acquisitions and helps them succeed quickly.
They’re always really well-run organizations out there—whether they’re traditional, like we would have looked years ago when we were local or regional provider; or whether they’re a cloud professional services organization; or cybersecurity; or a managed services business.
They get to a point when the owner-entrepreneurs say, ‘OK, I’ve got to start making really significant investments to grow my lifecycle services up and down the stack and grow my technology toolset across more technology areas. I can’t just be relevant in public cloud. Clients are going to have a multi cloud environment. I’ve got to make investments.’
Those can be really capital intensive and they can certainly chew up a lot of operating capital as well. These owner- entrepreneurs want to sell their business to someone they know is going to take really good care of their people, increase sales and opportunity, and still get to continue to participate in the upside as the business grows. That’s what [Presidio] can do.