CompuCom is doubling down on the lucrative Internet of Things market, announcing on Friday it will acquire the IoT division of managed IT service provider Extensys.
Will Winn, senior vice president of IoT solution sales at CompuCom, said the acquisition would equip CompuCom with Extensys’ “breadth and expertise at the field maintenance and monitoring level.”
“The most immediate goal [for CompuCom] is to be able to provide business solutions to its existing customer base and align transformational IoT solutions to those entities,” said Winn. “That’s the beauty of IoT for customers, between reducing costs to gaining visibilities into different systems through analytics.”
As part of the acquisition, CompuCom – which ranked No. 23 on the 2014 CRN Solution Provider 500 – will continue to build out its Internet of Things business with Extensys’ core team and “deep expertise” in IoT, said Winn.
Extensys, based in Oldsmar, Fla., approaches the Internet of Things market by delivering unified communications with life safety and emergency notification services. The company has expanded its IoT solution portfolio to include energy management, HVAC and sensor management, as well as building management solutions, automation services, and sensor management with analytics.
CompuCom will gain a key player through the acquisition for its Internet of Things team; Extensys’ former CEO, Roland Feijoo, will become executive vice president of the IoT Solutions Group at CompuCom, and will be chairman of Extensys.
“We’re looking forward to expanding our capabilities with existing Extensys clients, serving new ones and delivering in new regions, and CompuCom’s U.S.-Canadian footprint and field force set it apart from any other company,” Feijoo said in a statement.
Extensys also specializes in key verticals for the Internet of Things, such as government, education and health care – which Winn said would broaden CompuCom’s own expertise in finance and retail.
CompuCom, based in Plano, Texas, did not disclose the financial terms of the transaction, but said the acquisition is expected to be completed in 45 days.
In addition to Feijoo and Winn, CompuCom's Internet of Things team will be led by Matt Good, director of service delivery, and Brian Hamm, director of R&D.
“There is so much hype around IoT, but few companies are actually delivering" on their promises, CompuCom CEO Don Doctor said in a statement. “Extensys has a very strong track record of successful implementations, and CompuCom brings a significant engine to capitalize on opportunities in IoT, along with the ability to deliver a full range of life-cycle services – in markets in which CompuCom currently serves clients, as well as new ones.”