Thursday, January 24, 2008
Insight Enterprises to Nab Calence for $125M
Insight Enterprises Inc., a provider of information technology hardware, software and services, reported Thursday that it has agreed to buy independent IT services provider Calence LLC for $125 million in cash. Insight noted that the final purchase price could also include an additional $35 million contingent on meeting performance goals over the next four years. The Tempe, Ariz.-based company said both boards have approved the transaction, which is expected to close early next quarter but is subject to regulatory approval and other customer closing conditions. Insight added that it funded the purchase through a combination of cash on hand and new debt facilities. Founded in 1993, Calence is also headquartered in Tempe.