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  • Friday, November 22, 2024

CDW Closes $2.5B Cash Buy of Sirius in IT Market Push

Information technology provider CDW (Nasdaq: CDW) has closed its approximately $2.5 billion cash purchase of Sirius Computer Solutions from private investment firm Clayton, Dubilier & Rice.

CDW said Thursday it expects the transaction to help grow the company’s IT portfolio for the government and business enterprise sectors in the areas of managed services, cloud, data and digital innovation, security and hybrid infrastructure.

The Vernon Hills, Illinois-based IT vendor first announced the deal in October and projected that the combination would generate $1.3 billion in annual net sales for service offerings.

Sirius supports clients within the federal, state and local government and education sectors through its position on multiple procurement vehicles.

Evercore and Sidley Austin respectively acted as financial and legal advisers to CDW on the transaction.

Guggenheim Securities advised Sirius and its former owner, CD&R, on the financial aspects of the deal while Kirkland & Ellis served as legal adviser.

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