ePlus ($PLUS) has acquired Systems Management Planning (SMP), a $100 million-plus technology solutions provider (TSP) that supports clientele across upstate New York and the Northeastern United States. Financial terms of the deal were not disclosed.
This is M&A deal number four that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
SMP, founded in 1997 and based in Rochester, New York, scaled beyond $50 million in revenue by 2012, and beyond $100 million in revenue in 2019, according to the company's website.
SMP specializes in collaboration, artificial intelligence (AI), cloud, audio/visual, data center and staffing solutions, as well as managed and professional services. SMP maintains key technology partnerships with Cisco Systems, Dell EMC, NetApp and VMware, among others.
ePlus Acquires SMP: Executive Perspectives
In a prepared statement about the SMP deal, ePlus President and CEO Mark Marron said:
“We are very excited about the acquisition of SMP and have been very impressed with the long-term relationships they have built with their customers. Acquiring SMP strengthens our existing presence in the region, and its focus on collaboration and related solutions to support at-home workers is extremely relevant in today’s market. Our combined capabilities will allow us to deliver a broader array of solutions to customers, and we extend a warm welcome to the talented SMP team.”
Added Peter Allen, chief operating officer of SMP:
“We are thrilled to join the ePlus family. The depth of expertise and resources available from ePlus will provide significant benefit to our customers and we’re excited to begin this next chapter.”
ePlus Revenues and Previous Acquisitions
For its Q2 of fiscal year 2021 (ended September 30, 2020), ePlus said:
- Net sales were $433.1 million, up 5.4 percent from $419.4 million in Q2 of fiscal year 2020
- Net earnings were $19.85 million, down slightly from $20.1 million in Q2 of fiscal year 2020.
ePlus has been an active buyer in the MSP and IT solutions provider (ITSP) market. Previous deals include buying:
SMP also has M&A experience, buying a local reseller in 2003, according to SMP's website.