IT service provider PCM has been acquired by Insight for $581m, creating overall run-rate operating synergies of $70m by the end of 2021.
The deal expands Insight's global footprint, brings the headcount to circa 4,000 and bolts on 40 office locations across the US, Canada and the UK.
“Over the past five years Insight has made significant progress, transforming our business from a value added reseller to a global solutions provider," stated Ken Lamneck, CEO of Insight.
"Together with PCM we will be better positioned to capitalise on our solution area investments through the addition of more technical and sales resources and access to thousands of new customers, especially in the mid-market and corporate client segments.”
Steve Dodenhoff, President of Insight’s North America business, added: “This combination offers the ability to provide clients with greater value at a time when they increasingly need a full-service technology solutions provider to help them transform for the future."