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7 Things You Need To Know About Getronics's Acquisition Of Pomeroy
A Solution Provider Game-Changer
Earlier this month, Getronics acquired Pomeroy in a move that marks a return of the Amsterdam-based solution provider to the U.S. for the first time in 10 years.
The deal between the two companies, announced on July 12, creates a $1.3 billion solution provider behemoth with 9,000 employees and coverage in more than 110 countries. Financial terms of the deal were not disclosed.
It was an ambitious move, since Getronics itself was acquired 12 months ago when Brazilian investment firm Bottega InvestCo, bought the 130-year-old firm from investment firm Aurelius. When it did so, Bottega majority shareholder Nana Baffour took over as CEO of Getronics.
Vowing to double the company's fortunes to $1 billion by 2020, Baffour celebrated reaching that milestone two years ahead of schedule, in the press release when he announced the purchase of Pomeroy.
"So this is one sort of prediction that I was glad that I was wrong," he told CRN. "I'm really grateful that we were wrong in this and we were wrong by a wide margin."
What follows is a list of seven key takeaways about the deal, according to Baffour.