ScanSource Announces Execution of Letter of Intent to Acquire KBZ, a Leading Cisco Video Conferencing Distributor
19 8월 2015 - 12:00AM
Business Wire
ScanSource, Inc. (NASDAQ: SCSC), the leading international
value-added distributor of specialty technology products, today
announced the execution of a letter of intent to purchase the
assets of KBZ, an award-winning Cisco Authorized Distributor
specializing in video conferencing, cloud, and services.
Founded in 1987 and based in Doylestown, Pennsylvania, KBZ
operates in the United States and has approximately 75 employees.
The company’s sales for the trailing twelve months ended June 30,
2015 are estimated to total over $225 million. The acquisition is
expected to be accretive to earnings per share and ROIC in the
first year after closing, excluding one-time acquisition costs.
KBZ, formerly Tandberg’s largest distributor prior to its 2009
acquisition by Cisco, focuses its business exclusively on Cisco and
complementary vendors. KBZ provides scale, video conferencing
expertise, and services success with its ZCare offering to expand
ScanSource’s business with Cisco. KBZ also brings a specialized
public sector team to accelerate sales to Federal, state and local
governments. Like ScanSource, KBZ has a focus on providing
value-added services and support for its reseller partners. Their
regional alignment of sales teams provides continued interaction
with resellers and Cisco sales teams. KBZ’s sole goal is to help
resellers be successful in selling Cisco – they do this by
empowering collaboration through a focus on business, technology
and expertise. With extensive Cisco certifications, the KBZ team
offers the industry’s highest level of technical expertise to
resellers. KBZ was named Cisco Americas Collaboration Distributor
of the Year in 2014 and Cisco Americas Cloud Distributor of the
Year in 2015.
KBZ’s Vice President Kyle Zorzi, along with the KBZ team, will
join ScanSource. Mr. Zorzi joined KBZ in 2001 and currently
oversees all sales and operations for KBZ, working closely with
Cisco channel management teams to develop future business
opportunities, strategic partnerships and best practices for
partner development, partner and sales teaming, and value-added
service offerings. Mr. Zorzi will serve as Senior Vice President of
KBZ, a ScanSource Company. The company’s Owner and Founder, Ken
Zorzi, will retire from the business.
“We are very committed to the Cisco business at ScanSource and
are excited about the opportunities for growth for our partners
through the planned acquisition of KBZ. Ken and Kyle Zorzi have
grown KBZ to be a leading Cisco distributor, and Kyle will be
instrumental to the continued success of the business,” said Mike
Baur, CEO, ScanSource, Inc. “KBZ brings extensive experience in all
of Cisco’s premise and cloud solutions, including video
conferencing and services. We look forward to having Kyle and all
of the KBZ employees as a part of the ScanSource team.”
“I’m very excited and proud to be a part of and contribute to
the evolution of KBZ over the past 15 years. It has been a very
special and unique opportunity for me to be able to work
side-by-side with my father and build such an amazing successful
company together,” said Kyle Zorzi. “We have a very special team of
hard-working, dedicated, passionate people who love the technology
and who go above and beyond every day for Cisco and our customers.
I look forward to continuing our commitment to Cisco and our
customers under ScanSource, as I believe they are the perfect fit
for KBZ.”
The acquisition is expected to close in the quarter ending
September 30, 2015.
ScanSource management will discuss the planned acquisition on
its earnings conference call, scheduled for Thursday, August 20,
2015 at 5:00 p.m. ET. The call may be accessed via a live Internet
webcast in the Investor Relations section of ScanSource, Inc.’s web
site, www.scansource.com.
Safe Harbor Statement
This press release contains comments that are “forward looking”
statements that involve risks and uncertainties; these statements
are subject to the safe harbor created by the Private Securities
Litigation Reform Act of 1995. Any number of important factors
could cause actual results to differ materially from anticipated
results, including, but not limited to, the failure for the
acquisition of KBZ to be accretive to earnings per share and ROIC
in year one, the continued ability for KBZ to demonstrate sales
growth, the potential for the acquisition to not close by the end
of the quarter ending September 30, 2015, or at all, due to a
variety of factors, including due diligence review and regulatory
approvals. For more information concerning other factors that could
cause actual results to differ from anticipated results, see the
Company’s annual report on Form 10-K for the year ended June 30,
2014 and its subsequent quarterly reports on Form 10-Q filed with
the Securities and Exchange Commission. You are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date of this press release. We undertake no
obligation to make any revisions to the forward-looking statements
or to reflect events or circumstances after the date of this press
release.
About ScanSource, Inc.
ScanSource, Inc. (NASDAQ: SCSC) is the leading international
distributor of specialty technology products, focusing on
point-of-sale (POS) and barcode, communications and physical
security solutions. ScanSource’s teams provide value-added services
and operate from two technology segments, Worldwide Barcode &
Security and Worldwide Communications & Services. ScanSource is
committed to helping its reseller customers choose, configure, and
deliver the industry’s best products across almost every vertical
market in North America, Latin America and Europe. Founded in 1992,
the Company ranks #775 on the Fortune 1000. For more information,
visit www.scansource.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150818006029/en/
Media:Melissa Andrews,
864.286.4425melissa.andrews@scansource.comorInvestors:Mary Gentry,
864.286.4892mary.gentry@scansource.com
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