(RTTNews) - Shares of information technology solutions provider CDW Corporation (CDW) are climbing more than 5% Monday morning following its decision to acquire Sirius Computer Solutions, Inc. from an affiliate of Clayton, Dubilier & Rice for $2.5 billion to be paid in cash.
The acquisition is expected to add to the company's adjusted earnings per share, gross margin, and non-GAAP operating income margin.
The transaction significantly accelerates CDW's services and solutions capabilities, the company noted.
"Combining our businesses will accelerate progress on our three-part growth strategy by augmenting our portfolio and enhancing our ability to deliver customer-centric outcomes across the full technology solutions stack and lifecycle," said Christine A. Leahy, president and chief executive officer, CDW.
The deal is expected to close in December 2021.
CDW is at $187.77 currently. It has traded in the range of $117.02- $203.82 in the last one year.
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