Brief: Wayside Technology Group to acquire EMEA channel distributor, Spinnakar Limited

Climb Global Solutions

18/08/2022 13:48

Aug 18 (Reuters) - Wayside Technology Group Inc  WSTG.O :
    * WAYSIDE TECHNOLOGY GROUP TO ACQUIRE EMEA CHANNEL
DISTRIBUTOR,
SPINNAKAR LIMITED
    * WAYSIDE TECHNOLOGY GROUP INC - TRANSACTION EXPECTED TO BE
ACCRETIVE TO GROSS MARGIN AND EPS
    * WAYSIDE TECHNOLOGY GROUP INC - SPINNAKAR FOUNDER AND CEO
GERARD
BROPHY TO JOIN COMPANY AS A MANAGING DIRECTOR
    * WAYSIDE TECHNOLOGY GROUP INC - DEAL PRICE OF $11.8 MILLION
PAYABLE AT CLOSING, PLUS  POTENTIAL POST-CLOSING EARN-OUT
    * WAYSIDE TECHNOLOGY GROUP INC - FUNDED ACQUISITION OF
SPINNAKAR
UTILIZING CASH FROM CO'S BALANCE SHEET

Source text for Eikon:  ID:nGNX9hw3cj 
Further company coverage:  WSTG.O