North American IT solutions provider Presidio is acquiring Coda Global, a cloud consulting specialist from Dallas, Texas, for an undisclosed sum.
This is M&A deal 324 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Within its suite of cloud consulting services, Coda provides cloud migration, cloud-native application development, DevOps, big data enablement, and machine learning with advanced analytics.
The company is partnered with Amazon Web Services, IBM, Microsoft, Google, and Red Hat.
Presidio’s Coda Acquisition: Executive Insight
Sam Fatigato, CEO, Coda Global, commented on the news:
“We are excited about providing even greater value to clients, as our organizations share a core business model, complementary competencies, and common culture and values. Being sales-led with a focus on top-level engineering, having a track record of high levels of customer satisfaction, and possessing the ability to deliver real business and IT services and solutions to our clients, has been a hallmark of both Presidio and Coda through the years.”
Bob Cagnazzi, CEO of Presidio, added:
“By combining the deep skills and management depth that Coda brings to the table with the tremendous expertise of the existing Presidio solutions portfolio in cloud, security and digital infrastructure we can now provide clients with a comprehensive agile, secure, hybrid-cloud infrastructure platform that is not only agile and high performing, but also secure throughout. We believe our clients will see immediate benefits from this winning combination.”
Presidio’s PE Backer
This deal comes less than a year after Presidio was acquired by private equity firm BC Partners, which paid over $2 billion for the company.
Presidio, which is itself partnered with Amazon Web Services (AWS) among others, can be seen as a bellwether company for tracking such IT service provider trends as hybrid cloud, managed services, digital transformation, and cybersecurity services. The firm is also partnered with Cisco Systems, Dell EMC, and VMware.
Before being bought out by BC Partners, Presidio was building its business through acquisitions and creating its own intellectual property. In 2018, the company acquired Red Sky Solutions.
Sourced from Chanele2e - written by Ty Trumbull