Pensare Acquisition Corp. is spending roughly $115 million to acquire two IT solutions providers with managed IT services provider (MSP) expertise. The acquired businesses will form a national IT solutions provider that offers cloud-managed unified communications, Pensare says.
Pensare has hired Vonage and AT&T veteran Graham McGonigal as chief operating officer (COO) to lead the strategy. The first two acquisitions involve buying Cisco Systems partner Computex Technology Solutions for $65 million, and an unnamed IT solutions provider for $49.5 million.
ChannelE2E is trying to determine (A) why the second company's name was not disclosed and (B) whether the M&A deals are somehow related to Pensare's earlier merger with with TPx Communications, which was valued at $343 million. At the time, TPx had roughly 30,000 customers in over 53,000 locations around the United States.
About Computex
Computex is a Cisco Gold Quad Master partner across cloud and managed services; collaboration; cybersecurity and networking. The company's managed IT services also span Unified Communications-as-a-Service (UCaaS), directory and messaging services, enterprise networking, cybersecurity, collaboration, data center, integration, storage, backup, virtualization, and converged infrastructure, the company says.
In a prepared statement about the acquisitions, Pensare CEO Darrell Mays said:
“We are excited about the acquisition of Computex, which we believe is an excellent platform on which to build the premier provider of Cloud-managed Unified Communications IT solutions. We intend to provide these companies with the capital, expertise, and runway they need to capture significant share of this market, particularly businesses with multiple locations.”
McGonigal added:
“I am excited about the opportunity to once again work with Darrell Mays and Bob Willis in building another leading telecommunications service company. We see expansive scale achievable through accelerated, organic growth and investment of capital in Computex as well as through immediately available, accretive acquisitions.”
Sam Haffar, co-founder and CEO of Computex, stated:
"We are delighted to partner with Pensare in this transaction, which will provide Computex with access to the public markets as well as additional resources to drive our growth and provide significant benefits to our customers and our employees.”
EarlyBirdCapital is serving as financial and capital markets advisor to Pensare. Greenberg Traurig is acting as legal counsel to Pensare.
