PLEASANTON, Calif., March 3, 2014 /PRNewswire/ -- CANCOM Corporation (www.CANCOM.com), one of the largest independent system houses in Europe, today announced the signing of a definitive agreement to acquire HPM Networks (www.hpmnetworks.com). The merged company will continue to serve customers as a global leader in cloud computing and integrated IT services and solutions for enterprise clients.
The agreement combines the strengths of CANCOM and HPM Networks by leveraging CANCOM's financial and technical resources as well as its global networks with HPM Networks' strengths as one of the top Solution Providers in North America. Together, the power of the two companies brings industry experience and expertise to deliver un-paralleled IT cloud services, providing their customers with game changing solutions.
HPM Networks' seasoned management team, led by its shareholders, Founder and CEO, Romi Randhawa and Executive Vice-President, Charles Miano have established one of the best-of-breed IT solutions partners in North America. CANCOM will retain HPM Networks' shareholders, with Romi Randhawa leading CANCOM's U.S. operations and Charles Miano continuing in his current role as Executive Vice President. Romi Randhawa is an established industry leader who has served on a number of OEM advisory boards and is recognized in the IT channel for his leadership and strong relationships with key OEM's. "We are pleased to combine our strengths to meet the demand of the marketplace – delivering IT data center and cloud services that are leading edge vs. current competitive offerings. This merger will also give us the ability to serve our clients globally," states Mr. Randhawa.
"With HPM we enter the U.S.-market, which offers significant additional growth potential as well as further momentum for our growing cloud business with enterprise clients," says Klaus Weinmann, CEO of CANCOM Group. "The dynamic market environment in the U.S. can significantly leverage our way to becoming the leading cloud transformation partner for our clients," Weinmann adds.
Among many key strategic benefits of this merger is hyper-accelerated growth and scale. With estimated combined revenues of over $1 Billion USD for 2014, the newly joined companies are well-positioned to deliver unique value to customers. The pairing of HPM Networks' cloud and data center infrastructure solutions with CANCOM's portfolio of cloud and managed services provides the combined organization a major competitive advantage and creates an enormous growth opportunity in the U.S. market to help clients accelerate their transition to the cloud, empowering businesses and individuals with the flexibility they need to drive growth and profits.
About HPM Networks
Headquartered in Pleasanton California, HPM Networks is one of the leading technology solution integrators in the San Francisco Bay Area. For 20 years, HPM has offered pragmatic, vendor neutral solutions for clients to manage risk, growth and cost with their technology infrastructure. For more information, visit www.hpmnetworks.com and connect with them on LinkedIn and Twitter.
About CANCOM
CANCOM Group is one of the largest IT system houses in Europe and offers integrated IT services and solutions to enterprise clients. As an IT architect, systems integrator and managed services provider, CANCOM today has a clear focus on cloud computing and is one of a few IT services firms offering a proprietary private business cloud solution to medium-size and large enterprise clients. CANCOM has strong partnerships with leading IT technology providers like HP, IBM, Citrix, Cisco, Apple, Microsoft, VMware, SAP etc. The company was established in 1992 and has grown to over 2000 employees and more than 30 locations. CANCOM is publicly-traded on the Frankfurt, Germany Stock Exchange (XTRA: COK) and is included in the TecDAX stock index that tracks the performance of the 30 largest German technology companies.
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| HPM Networks |
CANCOM |
| Angela Restani |
Beate Rosenfeld |
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Manager of Corporate Communications |
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SOURCE HPM Networks
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