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Presidio Enters Definitive Purchase Agreement to Buy Netech Corporation

January 08, 2016

The need for consolidated services in the IT segment is pushing service providers to merge with other companies. The latest company jumping on that trend is Presidio, a national provider of professional and managed services for advanced IT solutions. It has announced its entrance into a definitive purchase agreement to buy Netech Corporation.

Currently, Presidio has more than 55 offices across the US. But as the company looks to offer services in different regions of the country, businesses like Netech provide the opportunity to hit the ground running in the markets Presidio wants to penetrate.

Bob Cagnazzi, Chief Executive Officer of Presidio, said "The addition of Netech will provide Presidio with a well-established, high-performing team in an important geographic area where Presidio lacks scale, and a loyal client base that can benefit from our national offerings.”

Netech will be the sixth geographic location for the company, which will be part of the Presidio North Central Area. The 11 offices Netech runs throughout the Midwest employs more than 430 people, of which close to 200 are engineers with over 1,200 certifications. The company provides services across a wide range of industry sectors for businesses, healthcare, government, and education by offering design, integration and optimization of data center and cloud, network and physical security, collaboration, and enterprise networking solutions.

While Netech has had a proven system with a strong customer base in place for more than 19 years, the company needed the expertise and size of a company like Presidio in order to keep growing beyond the region while delivering additional services for its current customers.

“Presidio's scale will enable this team to further grow and expand our offerings and create value for our clients. Presidio has mature offerings in cyber security, cloud and IoT (Internet of Things) that are additive to our portfolio," said James Engen, Chief Executive Officer of Netech.

Netech founder and CEO James Engen will be leaving the company along with his two sons, who are the owners along with Mark Wierenga. Under the new restructuring, Wierenga will be North Central Area President reporting to Presidio's Chief Executive Officer, Bob Cagnazzi.

Presidio announced the transaction with Netech will be finalized during calendar Q1 2016.

Edited by Kyle Piscioniere

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