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Oct. 18, 2021, 7:08 a.m. EDT

CDW to pay $2.5 billion in cash to buy Sirius Computer Solutions from CD&R

CDW Corp. (NAS:CDW) announced Monday an agreement to buy Sirius Computer Solutions Inc. for $2.5 billion in cash from Clayton, Dubilier & Rice. Sirius Computer is an information technology solution integrator, which recorded 2020 sales of $2.04 billion. CDW's stock is will inactive in premarket trading. "As customers require increasingly complex and critical digital transformation initiatives, Sirius' broad portfolio of world-class technology-based solutions and services-led approach will immediately add to our capabilities to meet this demand," said CDW Chief Executive Christine Leahy. The deal is expected to close in December 2021. CDW's stock has rallied 34.9% year to date, while the S&P 500 (S&P:SPX) has gained 19.0%.

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