ePlus inc. (NASDAQ NGS:PLUS) 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
info@eplus.com. 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.
Contact:
Kleyton Parkhurst, SVP
ePlus inc.
kparkhurst@eplus.com
703-984-8150
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