Wednesday, April 2, 2008
Insight Completes Calence Buy for $129M
Insight Enterprises Inc., a provider of information technology hardware, software and services, announced Tuesday that its acquisition of Calence LLC has closed. The proposed merger was first reported on Jan. 24. Insight said the $129 million final sale price includes a $4 million working capital adjustment, and as much as $35 million more could be paid if Calence achieves certain performance criteria during the next four years. Insight also reported Tuesday that it has obtained a new, five-year, $300 million revolving credit facility, which replaces an existing $75 million revolver and a $52.5 million term loan. Insight added that the new facility funded, in part, the Calence acquisition. Founded in 1993, Calence provides Cisco-based network consulting. Both companies are headquartered in Tempe, Ariz.