- Wayside Technology ( NASDAQ: WSTG ) said Thursday it acquired UK-based IT channel distributor Spinnakar for $11.8M (£9.8M) payable at closing, plus a potential post-closing earn-out.
- WSTG funded the acquisition with cash from its balance sheet.
- The deal is expected to be accretive to WSTG's gross margin and EPS.
- Gerard Brophy, founder and CEO of Spinnakar, will continue to lead Spinnakar's EMEA business and will integrate with WSTG's European business units - Climb UK and Grey Matter.
- WSTG expects operating synergies and improvements for vendor recruitment and expansion in EMEA and worldwide.
- Spinnakar focuses on storage, cloud, security and data management businesses across EMEA.
For further details see:
Wayside Technology acquires EMEA IT channel distributor Spinnakar for $11.8M