Grey Matter and Sigma Software Distribution parent acquired by US firm
CDF Group acquired for $17.4m
CDF Group, parent of Microsoft partner Grey Matter and distie Sigma Distribution, has been acquired by US firm Wayside Technology Group for $17.4m.
Wayside is the parent company US VAD Climb Channel Solutions, which specialises in carrying emerging tech vendors.
The deal also brings with it CDF's professional services outfit CloudKnowHow.
CDF boss Andrew King will become president and general manager of Wayside's EMEA operation as part of the transaction.
"Wayside's extensive vendor network and commitment to developing emerging technology brands made them an ideal partner for CDF given our limited overlap in geographies as well as vendor and VAR relationships," he said.
"In addition, CDF's software and cloud platform expertise will enable us to provide Wayside's customers with end-to-end cloud solutions and support, from cloud adoption to migration to optimization.
"We look forward to integrating with Wayside and building an even stronger cloud marketplace and vendor network as a combined company."
Grey Matter reported sales of £57.8m for the year ending 30 June 2020, up 11 per cent on the previous year.
Sigma, meanwhile, is listed as a trading name of Grey Matter on its website.
Wayside is listed on the NASDAQ and has a market cap of around $103m.
Dale Foster, CEO at Wayside, said: "CDF brings a robust cloud services platform to Climb and significantly strengthens our position in the EMEA market.
"By utilizing CDF's existing cloud solutions infrastructure, we believe that our cloud offerings are better positioned to meet the growing needs of our vendor and VAR partners in both EMEA and North America.
"Further, with the added support of CDF's professional services division CloudKnowHow, we can make cloud integration seamless for our clients and further build out our team's technical expertise. This presents a long-term strategic opportunity for us to expand into more value-added services that can deepen our partnership with customers."
Wayside said that CDF brings with it around 125 employees and a network of over 1,000 VARs.