![]() We look forward to working with the combined team and continuing to deepen our relationship.” ![]() We see significant value in the combination as both companies’ unique strengths can provide a best-in-class service that will grow our distribution network and expedite our go-to-market for new products. Patrick Hurley, general manager of North America for Acronis, commented: “Over the years, Acronis has built a long-standing and successful relationship with both Lifeboat and Interwork. and Canada.”Īlthough Lifeboat and Interwork have only three overlapping vendor partners, one of their top shared technology partners, Acronis, has endorsed the business combination. We look forward to integrating with the Lifeboat platform as we leverage one another’s deep relationships with technology partners and VARs across the U.S. Our team prides itself on delivering highly-responsive service levels and invests heavily in training and development to provide our partners with the expertise and support they need to grow their business. We look forward to expanding our presence in Canada through Interwork’s network of VARs, and we expect this acquisition to be accretive to adjusted EBITDA, which will allow us to continue to accelerate growth and profitability on the heels of our record 2019 performance.”Ĭommenting on the acquisition, Interwork President Joe Graci stated: “Both Lifeboat and Interwork have carved out a unique and differentiated space in the market to help launch and develop emerging technology brands. “We have identified multiple near-term cost and revenue synergies and given our limited overlap in customers and technology partners, we expect to actively cross-sell products and services across both organizations. “Interwork brings an exceptional team to Lifeboat with a very similar culture built on servicing clients with a differentiated, high-touch approach,” said Dale Foster, CEO of Wayside. ![]() Joe’s diverse industry experience and perspective will be a welcome addition to the Wayside management team. Interwork President Joe Graci will now lead Lifeboat’s Canadian business with plans to integrate both companies’ Canadian operations, which Wayside anticipates will bring various cost synergies through the consolidation of sales, general and administrative expenses. Interwork brings scale to Wayside with more than 20 new vendor partners, a network of approximately 2, 500 value-added resellers (VARs) and an incremental increase in annual gross billings of approximately 10%. Interwork is a Toronto based value-added specialty distributor focused on cybersecurity, information management and network solutions in both Canada and the US. The transaction is expected to close during the second quarter of 2020, subject to customary closing conditions. ![]() (NASDAQ: WSTG) (“Wayside” or the “Company”), an IT channel company providing innovative sales and distribution solutions, has entered into an agreement to acquire Interwork Technologies (Interwork), a technology distribution company, which will be integrated into Wayside’s Lifeboat Distribution business. EATONTOWN, N.J., Ap(GLOBE NEWSWIRE) - Wayside Technology Group, Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |