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ScanSource CEO Talks M&A, Layoffs And Latest Earnings

ScanSource’s Intelisys master agency business is finding traction with IT solution providers, but the distributor is exiting its Canpango Salesforce deployment services businesses in favor of partnering with other vendors to help its solution providers.

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Hits And Misses In A Shifting Distribution Environment

ScanSource on August 31 reported its fiscal fourth quarter 2020 results, and the result, while not grim, were not the results a company hopes for. The Greenville, S.C.-based distributor reported net sales for the quarter down 22 percent year-over-year at $636.5 million, and a net loss of $217.3 million, down significantly from last year’s net income of $11.6 million.

While it is easy to pin the results on the fallout from the COVID-19 coronavirus pandemic, and indeed the company did so, both during this quarter’s financial report and in July when it pre-announced the financials, there’s more behind the numbers. As CEO Mike Baur tells CRN in an exclusive meeting, ScanSource has had great success with its Intelisys master agent business, but the Canpango Salesforce deployment and integration it acquired has not performed and so is being discontinued.

To understand the changes going on inside ScanSource, and for Baur’s take on why ScanSource has no need to get acquired by private equity providers unlike its rivals Tech Data and supposedly Ingram Micro (hint: ScanSource doesn’t need the money), turn the page.

 
 
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