Presidio Acquires Sequoia for Hybrid Cloud IT Services
Presidio LLC, the massive IT service provider, has acquired Sequoia Worldwide LLC‘s assets to push deeper into private and hybrid cloud solutions, along with cloud brokerage technologies. It’s the latest step in a transformative journey for Presidio.
Updated Monday, November 30, 6:40 p.m. ET: Presidio CEO Bob Cagnazzi explains the Sequoia Worldwide buyout.
Ahead of the deal, Presidio employed about 2,400 IT professionals — about 1,500 of which are engineers. The company, led by CEO Bob Cagnazzi and owned by Apollo Global Management, has introduced a range of cloud and managed services in the past few years. Presidio has also exited some businesses — such as the Atlantix Global Systems subsidiary, a reseller of reconfigured and refurbished IT and telecom equipment.
Sequoia’s Cloud Management, Brokerage Expertise
Sequoia Worldwide LLC, meanwhile, provides consulting, integration, and services focused exclusively on private and hybrid cloud solutions. The company works closely with Cisco, VMware, Microsoft and OpenStack. Sequoia also owns intellectual property involving cloud management and brokerage technologies.
Sequoia will become the Cloud Business Unit for Presidio and do business as Sequoia Cloud Solutions, a Presidio Company. Financial terms were not disclosed. ChannelE2E is seeking additional comment from Presidio on a range of items, and will update this article when the information arrives.
PS: Mergers and acquisitions across the IT service provider landscape show no signs of slowing down. In fact, ChannelE2E expects to confirm at least one more M&A deal involving a well-known MSP in the next 24 to 36 hours.