ScanSource to Acquire MicroAge, Expanding IT Solutions Reach
SCSC sits 69% above its 52-week low of $33.76.
Summary
ScanSource is acquiring MicroAge, a leading IT solutions integrator, for $220.5 million in cash. The deal expands ScanSource's footprint in IT solutions and services, complementing its existing distribution business. ScanSource will fund the acquisition through borrowings under its credit facility. The company expects FY27 adjusted EBITDA of $158 million to $165 million and FY27 free cash flow of at least $85 million. The acquisition could enhance ScanSource's competitive position in the IT channel, though integration risks remain.
At the time of this announcement, SCSC was trading at $57.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $1B. The 52-week trading range was $33.76 to $59.60. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.