INSIGHT ENTERPRISES INC (NSIT): M&A transaction — Insight closes $410M acquisition of SADA Systems, Google Cloud partner; sees $0.55-$0.75 EPS boost in FY2024

INSIGHT ENTERPRISES INC

Paid $410M cash-free, debt-free for all equity of SADA; earnout up to $390M based on EBITDA and revenue goals through 2026.
SADA is a six-time Google Cloud Partner of the Year with ~850 professionals; adds Google Cloud expertise to Insight's multicloud portfolio.
Acquisition expected to add $0.20-$0.30 to adjusted diluted EPS in December 2023 and $0.55-$0.75 for full year 2024.
Insight now offers solutions across Microsoft Azure, Google Cloud, and AWS; total team exceeds 14,500 across 26 countries.
Transaction closed December 1, 2023; financials to be filed within 71 days via amendment.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

INSIGHT ENTERPRISES INC completed an acquisition involving Verse Holdco, Inc. for $410 million on a cash-free, debt-free basis (closed 2023-12-01).

Action: acquisition
Counterparty: Verse Holdco, Inc.
Consideration: $410 million on a cash-free, debt-free basis
Closing: 2023-12-01

Exact text from the filing

(the “Purchase Agreement”) entered into among Insight, SADA, and Verse and its stockholders (collectively, the “Seller Parties”). Insight paid a closing purchase price of $410 million on a cash-free, debt-free basis, subject to certain customary purchase price adjustments. There is an additional earnout and incentive opportunity for the Seller Parties of up to

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Source: SEC EDGAR

accession 0001628280-23-040396

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