Insight acquires Software Spectrum

Online reseller giant claims acquisition will enhance its capabilities in software sales and expand its global reach

Online reseller Insight has entered into a definitive agreement to acquire global technology VAR Software Spectrum for $287m in cash.

The acquisition has been approved by the boards of directors from both companies, but is subject to customary closing conditions, including anti-trust approvals. Insight has said it expects the acquisition to close during the third quarter of this year.

Software Spectrum, which has a UK office in High Wycombe, Bucks employing over 40 people, describes itself on its website as "the world's largest Microsoft VAR", and also partners with vendors including Adobe, Citrix, Corel, LANDesk, Mindjet and Symantec.

As a result of the acquisition, Insight claimed it will have “significantly enhanced capabilities in the sales and service of software, an expanded global presence and deeper penetration of the global enterprise sector”.

Rich Fennessy, chief executive of Insight said: "We are extremely excited about the acquisition of Software Spectrum. Combining the software expertise of Software Spectrum with Insight's expertise in hardware and services completes and solidifies our value proposition as a trusted advisor of business solutions to our clients."

"With this more robust offering, we are prepared to execute Insight's global vision by penetrating deeper into global markets where Software Spectrum already has an established footprint,” he added. “The combined enterprise will be well-equipped to respond to the dynamic market, and is well-positioned to become the leading provider of IT solutions to businesses around the globe. We believe the combination of these two successful companies will create exciting opportunities for our teammates, clients and partners as well as for the stockholders of Insight."

Keith Coogan, chief executive of Software Spectrum said: "We are looking forward to joining forces with Insight. Both companies share a similar, client-centered culture. Software Spectrum's client base and our capabilities in software are a strong addition to Insight's hardware and services competencies. "