Presidio Acquires Internetwork Engineering To Boost US Market Presence

“This strategic acquisition provides the right mix of synergies and growth opportunities for both organizations and aligns perfectly with our focus on investing in opportunities that foster growth and innovation,” said Presidio CEO Bob Cagnazzi.

Channel partner all-star Presidio is significantly expanding its market presence in the U.S. by acquiring Charlotte, North Carolina-based Internetwork Engineering (IE) with the goal of increasing networking, data center and cybersecurity sales.

Presidio CEO Bob Cagnazzi said his $6 billion New York City-based company will now be in a better position to serve customers across the Southeast U.S. thanks to IE.

Cagnazzi said Presidio and IE share a similar “outcome-oriented and people-first cultures” dedicated to solving complex IT challenges.”

Presidio ranks No. 21 on CRN’s 2024 Solution Provider 500 list, while Internetwork Engineering ranks No. 134.

The financial terms of the deal were not disclosed.

Presidio Acquired By Private Equity Firm

The IE acquisition comes just six months after Presidio itself was bought by private equity giant Clayton Dubilier and Rice (CD&R) in April.

The deal came about five years after private equity firm BC Partners agreed to purchase Presidio for $2.1 billion, taking Presidio off the public market.

Presidio CEO Cagnazzi told CRN at the time that CD&R would fuel its acquisition pace.

“There is a lot of dry power there for us to accelerate our growth, making the right kind of acquisitions that will provide advanced services, greater geographic coverage or provide even more scale from a people standpoint,” Cagnazzi told CRN in April. “We hope to be extremely active growing the business organically and inorganically through acquisitions like we have done in the past. We think we can move a lot faster with a lot more dry power than we have had in the past.”

Presidio’s Merger Vision For Internetwork Engineering

The goal of Presidio’s acquisition of IE is to strengthen the company’s scale in key markets and the opportunity for IE to cross-sell solutions across Presidio’s extensive portfolio.

Founded in 1996, IE has expertise in delivering customized technology solutions, consulting, and operational services to mid-market and enterprise clients across the Southeast region of the U.S. The company specializes in collaboration, data center, networking, and cybersecurity solutions, while IE aims to align technology with business goals to drive transformative growth.

Chuck Steiner, president and CEO of Internetwork Engineering, said Presidio will enhance his company’s technology depth with an “immediate opportunity to offer more cloud-based services and consumption, managed services, and cybersecurity.”

“IE bolsters Presidio’s geographic presence and scale delivering organizational benefits to both companies,” Steiner said in a statement. “We’re excited to join forces and for the opportunities ahead for us.”