Leading Canadian Managed Services Company
Softchoice to Acquire UNIS LUMIN LINE HERE
Softchoice Corporation (TSX: SO) announced today that it has entered into an agreement to acquire the business of UNIS LUMIN, one of Canada's most highly regarded Cisco networking and managed services companies. The acquisition strengthens Softchoice's professional services capabilities while providing the technology foundation to support the Company's future cloud offerings.
Softchoice has agreed to pay approximately $17 million in cash for substantially all assets of UNIS LUMIN, subject to balance sheet adjustments. The transaction is subject to approval by the Competition Bureau of Canada and is expected to close before December 31st, 2011.
Softchoice Corporation was represented by Martin Wolf. Veracap Corporate Finance acted on behalf of UNIS LUMIN.
Benefits from the transaction include the following:
- A new, highly qualified sales and professional services team with a reputation for technical excellence in solution design and delivery.
- Substantially deepens Softchoice's expertise in server virtualization and the implementation of private cloud infrastructure.
- Provides a recurring revenue stream and technology foundation for Softchoice's future public cloud offerings through UNIS LUMIN's Keystone managed services.
- Strengthens Softchoice's ability to support the integration of Microsoft technologies through UNIS LUMIN's Microsoft Gold Partner certification.
- Increases Softchoice's geographic coverage of the Canadian marketplace with an office in Atlantic Canada and an increased presence in the west.
Softchoice intends to retain the UNIS LUMIN team in its entirety, including all Sales, Pre-sales, Professional Services, Managed Services and related operational functions.
"We are delighted to welcome the newest members of our team and to mark another great milestone in our progression as a comprehensive provider of end-to-end technology solutions," said David MacDonald, President and CEO of Softchoice. "We have witnessed unprecedented change and growing complexity in the technology landscape these past few years. Yet with our internal investments and acquisitions like this, we have never been more confident in our ability to assist customers in tackling their most complex projects - from the desktop, to leveraging private and public cloud infrastructure."
UNIS LUMIN's rapid growth is a reflection of the company's technical expertise and focus on earning the loyalty of its customers. For its most recent fiscal period ended June 30th, 2011, UNIS LUMIN recorded revenues of approximately $74 million. Over half of UNIS LUMIN's business is derived from its services offerings. Management believes the combination of the two firms will be accretive to Softchoice's earnings in calendar year 2012.
"As a high-growth company we have been in the fortunate position to be selective about finding the organization that would provide the right focus and resources to build on our work and value to customers," said John Breakey, CEO of UNIS LUMIN. "Softchoice more than met our criteria for continued success - above all, a strong culture and focus on people."
Please click here to read the press release.
To learn more about this transaction or our firm, contact Yousif Abudra at firstname.lastname@example.org or (925) 215-2760.
About Martin Wolf
Based in Silicon Valley, Martin Wolf is a leading middle market M&A Advisory focused on companies with services-based business models. Since 1997, our team has completed more than 100 transactions in six countries. We are a five-year member of the Merrill Lynch PS Referral Network, and were selected as ICICI Bank's (India's leading private bank) exclusive strategic partner for acquiring U.S. IT companies. For more information, visit www.martinwolf.com.
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