Procurement Engine to Benefit PC Connection, Inc. and Its Multinational Customers
MERRIMACK, N.H.--(BUSINESS WIRE)-- PC Connection, Inc. (dba Connection; NASDAQ: CNXN), an industry-leading National Technology Solutions Provider, announced it has acquired GlobalServe, a global IT procurement and service management company. Headquartered in Englewood Cliffs, NJ, GlobalServe will offer Connection's multinational customers access to a global supply chain platform that delivers greater flexibility, scalability, and efficiency.
GlobalServe's procurement engine, OneSource, provides real-time reporting—including Web-based access to complete dashboard and transaction information on IT assets as they move through the supply chain and IT lifecycle. Combined with a network of nearly 500 partners and 25,000 OEM-authorized service professionals in 174 countries, the OneSource system is designed to offer Connection's customers consistent supply chain operations and competitive procurement through a centralized purchasing portal.
Tim McGrath, President and CEO of Connection said, "Our acquisition of GlobalServe marks the next chapter in Connection's history of customer-centric innovation. A significant number of our customers have international locations, and now we have a single solution to fulfill their IT needs, no matter where their operations are located. By leveraging the GlobalServe network and OneSource system, we will be better positioned to fulfill the unique needs of our large, multinational customers that want to simplify international sourcing and reduce costs."
Building on an established record of customer-focused investments, the GlobalServe acquisition represents a major step forward in Connection's ability to service customers on a global scale. Centralized purchasing, one-click reporting, and visibility into IT assets worldwide should enable customers to bridge the gaps created by geographic boundaries, currency, and language—and focus on building more competitive businesses.
Financial terms of the transaction were not disclosed.
Connection (www.connection.com; NASDAQ: CNXN) is the combined corporate brand name for PC Connection, Inc., a Fortune 1000 company, along with its subsidiaries PC Connection Sales, GovConnection, MoreDirect, and Softmart, reflecting the Company's mission to connect people with technology that enhances growth, elevates productivity, and empowers innovation. Headquartered in Merrimack, NH with offices throughout the United States, the Company continues to deliver custom-configured computer systems overnight from our ISO 9001:2008 certified technical configuration lab at our distribution center in Wilmington, OH. Connection also services international customers through a global alliance with Bechtle AG, an IT provider based in Europe. In addition, the Company has over 2,500 technical certifications to ensure that we can solve the most complex issues of our customers. Investors and media can find more information about Connection at http://ir.connection.com
Connection — Business Solutions (800.800.5555), the original business of PC Connection, operating through our PC Connection Sales Corporation subsidiary, serving primarily the small- and medium-sized business sector, is a rapid-response provider of IT products and services. It offers more than 300,000 brand-name products through its staff of technically trained Account Managers, catalogs, publications, and website at www.connection.com/SMB
Connection — Public Sector Solutions (800.800.0019), our GovConnection, Inc. subsidiary, is a rapid-response provider of IT products and services to federal, state, and local government agencies and educational institutions through specialized Account Managers, catalogs, publications, and online at www.connection.com/publicsector
Connection — Enterprise Solutions (561.237.3300), www.connection.com/enterprise, our MoreDirect, Inc. subsidiary, provides corporate technology buyers with best-in-class IT solutions, in-depth IT supply-chain expertise, and access to more than 300,000 products and 1,600 vendors through TRAXX™, a proprietary cloud-based eProcurement system. The team's engineers, software licensing specialists, and project managers help reduce the cost and complexity of buying hardware, software, and services throughout the entire IT lifecycle.
Connection — Global Solutions (800.328.1319), www.connection.com/global, our recent Softmart acquisition, is a global supplier of technology, tools, and service solutions with more than 34 years of expertise in helping customers simplify software purchasing. As a Microsoft Licensing Solution Provider (LSP), the team offers industry-leading volume software license programs and affiliated license support.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are based on currently available information, operating plans, and projections about future events and trends. Terms such as "believe," "expect," "intend," "plan," "estimate," "anticipate," "may," "will," or similar statements or variations of such terms are intended to identify forward-looking statements, although not all forward-looking statements include such terms. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties, include, but are not limited to, the impact of changes in market demand and the overall level of economic activity and environment, or in the level of business investment in information technology products, competitive products and pricing, product availability and market acceptance, new products, market acceptance of the Company's new branding, fluctuations in operating results, the ability of the Company to manage personnel levels in response to fluctuations in revenue, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2015. More specifically, the statements in this release concerning the Company's statements of a non-historical basis (including statements regarding the Company's ability to integrate and leverage the resources of GlobalServe) are forward-looking statements that involve certain risks and uncertainties. The Company assumes no obligation to update the information in this press release or revise any forward-looking statements, whether as a result of any new information, future events, or otherwise.
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