–
Apollo Global Management LLC is in advanced talks to acquire Presidio Inc in a deal that could value the information technology consulting company at close to $1.3 billion, including debt, according to people familiar with the matter.
Apollo, a New York-based private equity firm, has outbid other buyout firms, as well as Sirius Computer Solutions Inc, a portfolio company of Thoma Bravo LLC, in the auction for Presidio, the sources said this week.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
American Securities LLC, the private equity firm that owns Presidio, hired Barclays Plc and Credit Suisse Group AG earlier this year to explore a sale of the company. The negotiations with Apollo have not yet been finalized, the people cautioned.
The sources asked not to be identified because the sale process is confidential. Apollo and American Securities declined to comment, while representatives for Presidio, Thoma Bravo and Sirius did not immediately respond to requests for comment.
Greenbelt, Maryland-based Presidio deploys and manages technology for customers ranging from retailers to hospitals, by partnering with companies such as Cisco Systems , EMC Corp , Microsoft Corp and EMC Corp’s VMware.
Presidio, which competes with Computer Sciences Corporation and Insight Enterprises Inc , among others, is expected to generate annual revenues of $2.4 billion this year, according to Moody’s Investors Service Inc.
American Securities acquired Presidio in 2011 for an undisclosed amount. It has since expanded Presidio’s offerings though the acquisition of smaller peers, including INX Inc and BlueWater Communications Group LLC.
