ScanSource Completes Acquisition of Video Confering Distrib
GREENVILLE, SC – ScanSource, Inc. (NASDAQ: SCSC), the leading international value-added distributor of specialty technology products, has closed its purchase of KBZ, an award-winning Cisco Authorized Distributor specializing in video conferencing, cloud, and services. ScanSource announced the execution of a letter of intent to purchase the assets of KBZ on August 18, 2015. 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. This acquisition enables ScanSource to enhance its focus on Cisco’s solutions, combining the strengths of both distributors to provide a more robust portfolio of products, solutions and services. KBZalso brings a specialized public sector team to accelerate sales to Federal, state and local governments.
“We are very pleased to have KBZ as a part of the ScanSource team,” said Mike Baur, CEO, ScanSource, Inc. “With the sharing of our value-added services, best practices, ideas and opportunities, we will be able to offer better programs and more support to our partners.”
KBZ’s Vice President Kyle Zorzi, along with the KBZ team, will join ScanSource. Mr. Zorzi will serve as Senior Vice President of KBZ, a ScanSource Company. He will report to Tony Sorrentino, President of ScanSource Security. For more information on ScanSource, please visit www.scansource.com.
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