Black Box To Acquire Cisco Video Specialist PS Technologies
Financial terms of the agreement, which was announced Tuesday, were not disclosed. Lawrence, Pa.-based Black Box said in a statement that PS Tech's annual historical revenue has been about $28 million. Black Box, a Cisco Gold partner, is ranked No. 27 on CRN's 2011 VAR500 list.
PS Tech is a Cisco TelePresence Video Master certified partner, and offers products and services in the U.S. Europe and the Pacific Rim. It also sells Polycom video products and services, and has a substantial healthcare and public sector practice, including a General Services Administration (GSA) schedule.
"The entire team is very excited to join our video capabilities and industry knowledge with Black Box," said Leo Flotron, PS Tech president, in a statement. "Our strategy has always been to provide superior video communications solutions to our clients. We believe that combining resources with Black Box enhances our ability to serve our clients in the emerging video communications market."
The entire PS Tech team is expected to join Black Box, according to the company. Flotron will report to Julie Lyda, Black Box's vice president and general manager.
"They have earned a great reputation as a high-quality video service provider," Lyda said in a statement. "The addition of PS Tech to the Black Box family will greatly enhance our organic Cisco capabilities in the video and teleconferencing space."
For its fiscal 2011 ended March 31, Black Box reported $1.1 billion in revenue, up 11 percent year-over-year from $961 million in its fiscal 2010. For its fiscal 2012, Black Box said in a recent earnings statement it will target revenues of $1.125 billion to $1.145 billion.