UPDATE 1-Presidio taps Barclays, Credit Suisse for sale -sources
(Adds Barclays' comment)
NEW YORK May 6 (Reuters) - Information technology consulting company Presidio Inc has tapped Barclays Plc and Credit Suisse Group AG to explore an initial public offering or a sale that could value the company at close to $1.5 billion, several people familiar with the matter said.
Founded in 2003, the Greenbelt, Maryland-based company deploys and manages technology for customers ranging from retailers to hospitals, by partnering with companies such as Cisco Systems, EMC, Microsoft and VMware.
Presidio, which competes with Computer Sciences Corporation and Insight Enterprises Inc, among others, is expected to reach revenues of $2.3 billion and earnings before interest, tax, depreciation and amortization of around $180 million this year, according to one of the people familiar with the matter.
All the sources asked not to be named because the matter is not public. The company, Credit Suisse and Barclays declined to comment.
Presidio is owned by private equity firm American Securities. (Reporting by Nicola Leske, Greg Roumeliotis and Soyoung Kim in New York; Editing by Prudence Crowther and Dan Grebler)
- Tweet this
- Share this
- Digg this
- Golf-Tired finish for McIlroy to end stellar PGA Tour season
- U.S. sees Middle East help fighting IS, Britain cautious after beheading |
- Pope says world's many conflicts amount to piecemeal World War Three |
- Scots independence battle reaches fever pitch on streets and screens |
- Fate of United Kingdom hangs in balance after new Scotland polls |