CDW To Acquire Sirius Computer Solutions For $2.5B Cash

• CDW Corp (NASDAQ: CDW) agreed to acquire Sirius Computer Solutions, Inc from Clayton, Dubilier & Rice (CD&R) affiliate for $2.5 billion in cash.

• Sirius is a provider of secure, mission-critical technology-based solutions for ~3,900 large and mid-sized customers. It generated net sales of $2.04 billion in 2020.

• The combined company would have had 2020 net sales of $20.5 billion. The acquisition will likely deliver gross margin, non-GAAP operating income (NGOI) margin, and non-GAAP EPS accretion.

• The transaction can significantly accelerate CDW's services and solutions capabilities and further enhance solving customers' increasingly interconnected and complex technology challenges.

• CDW expects the transaction to close in December 2021.

• CDW has committed financing for the transaction. It held $501.2 million in cash and equivalents as of June 30.

• Price action: CDW shares closed higher by 2.13% at $177.72 on Friday.

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