StockMarketWire.com - Computacenter said Monday it had it had acquired Fusionstorm, a US provider of IT solutions for at least $70m.

Computacenter said it would integrate its existing US business with FusionStorm, boosting the current Computacenter employee headcount in the Americas region by around 50%.

The transaction would allow Computacenter to have a consistent approach for the group's international clients.

Under the terms of the deal, Computacenter agreed to pay an initial $70m upon completion and up to $20m of additional deferred cash consideration depending on the levels of adjusted earnings (EBITDA) and gross profits achieved by FusionStorm over the 15-month period following completion.

The company also agreed to contribute a further $45m into FusionStorm to refinance existing facilities.

As part for the agreement, the current CEO of FusionStorm, Dan Serpico, would hand over his role over the coming months to the existing Computacenter US CEO, Mike Keogh, who would be supported by Justin Griffin, the current FusionStorm Senior Vice President of Sales, Computacenter said.

Dan Serpico was expected to step down from the business at the end of second-quarter 2019.

For the year ended 31 December 2017, FusionStorm reported profit before tax of $3.9m on turnover of $595.5m and had gross assets of $225.0m as at 30 June 2018.

'This transaction broadens our capability to serve our international customers and should enhance our existing customer offer and reach into the US marketplace whilst providing an opportunity to improve the long-term prospects for the employees of FusionStorm and Computacenter US,' said Mike Norris, Group Chief Executive of Computacenter.

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