ePlus Acquires Minneapolis Area IT Solutions Provider
HERNDON, VA – December 6, 2016 – ePlus inc. (NASDAQ NGS: PLUS – news) today announced that its subsidiary, ePlus Technology, inc., acquired the IT Services equipment and integration business of Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) (“Consolidated IT Services”). Consolidated IT Services business provides data center, unified communications, networking, and security solutions to a diverse set of domestic and international customers including commercial, enterprise, and state, local, and education (SLED) organizations in the upper Midwest. Consolidated IT Services is based in Minneapolis, MN and is a Cisco gold partner.
“Consolidated IT Services expands our reach and coverage in a new geography for ePlus, the upper midwest, and adds many new enterprise customers and a great set of talented employees,” stated Mark P. Marron, CEO of ePlus inc. “Consolidated IT Services’ customers will gain access to ePlus’ full range of managed and professional services, financing and lifecycle management tools, and nationwide coverage by our integration and logistics facilities. In addition, we will bring our full suite of advanced technology solutions and the highest certifications from the leading technology vendors — such as Check Point, EMC, HPE, NetApp, Palo Alto and VMware – to complement their expertise in core Cisco technologies.”
“As a trusted partner, our customers rely on us to deliver technology solutions to meet their business needs,” said Steve Larson, vice president of Consolidated Communications Enterprise Services, Inc. “By leveraging our experience as a Cisco partner in data center, collaboration, networking and security, this acquisition provides us with the ability to service our clients with an enriched portfolio of leading technologies, managed services, and enterprise class secure data center solutions.” The combination of ePlus’ advanced technology solutions and Consolidated’s long-standing client relationships will enhance our combined customer base with more innovative services and solutions.”
As part of the transaction, ePlus and Consolidated Communications ESI, Inc. have entered into a co-marketing agreement to sell the other party’s products and services to their customers.
The acquisition of certain assets and the assumption of certain liabilities of Consolidated Communications IT Services closed on December 5, 2016. Terms were not disclosed. Consolidated Communications ESI had revenues of approximately $55 million for its fiscal year 2015. Foros served as the exclusive financial advisor to Consolidated IT Services in this transaction.
About Consolidated IT Services
Consolidated is a Cisco gold partner with top level certifications including Master Cloud Builder, Master Managed Services, and Advanced Data Center. It provides a full range of data center, collaboration, and networking solutions to achieve customer business objectives including optimizing IT budgets to prioritize and implement immediate business need, mitigating business risk by utilizing proven best practices, methodologies, and experts with vast experience, creating strategic roadmaps to successfully accomplish forward-looking IT goals, and increasing business agility through timely access to elite IT solutions.
About Consolidated Communications Holdings, Inc.
Consolidated Communications Holdings, Inc. is a leading broadband and business communications provider throughout its 11-state service area. The company leverages its advanced fiber optic network and multiple data centers to offer a wide range of communications solutions, including data, voice, video, managed services, cloud computing and wireless backhaul. Headquartered in Mattoon, Ill., the Company has been providing services in many of its markets for more than a century. Learn more at consolidated.com.
About ePlus inc.
ePlus is an engineering-centric technology solutions provider that helps organizations imagine, implement, and achieve more from their technology. With the highest certifications from top technology partners and expertise in key technologies from data center to security, cloud, and collaboration, ePlus transforms IT from a cost center to a business enabler. Founded in 1990, ePlus has more than 1,000 associates serving a diverse set of customers nationally, and in Europe. The Company is headquartered at 13595 Dulles Technology Drive, Herndon, VA, 20171. For more information, visit www.eplus.com, call 888-482-1122, or email firstname.lastname@example.org. Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlus. ePlus. Where Technology Means More®.
ePlus®, Where Technology Means More®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies, products, and services mentioned herein may be the trademarks of their respective owners.
Statements in this press release that are not historical facts may be deemed to be “forward-looking statements.” Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; our ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to reserve adequately for credit losses; our ability to secure our electronic and other confidential information; future growth rates in our core businesses; our ability to protect our intellectual property; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to adapt to changes in the IT industry and/or rapid change in product standards; our ability to realize our investment in leased equipment; our ability to hire and retain sufficient qualified personnel; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.