ScanSource says plans are underway to sell off certain businesses outside of the U.S., Canada and Brazil. The planned divestitures are part of a strategic portfolio repositioning that aligns investments with higher-growth, higher-margin businesses.
The company plans to continue to operate and invest in its digital distribution businesses – which includes recent acquisitions such as intY, Canpango, and Intelisys Global – in these areas. The planned divestitures comprise of physical product businesses in Europe, the U.K., Mexico, Colombia, Chile, Peru and its Miami-based export operations.
The company announced the divestitures just ahead of an afternoon fourth quarter earnings call where it reported a 3% fourth quarter year-on-year revenue decline to less than $981 million.
“While we did not finish our fiscal year as strongly as we started, we delivered a record net sale of $3.9 billion for fiscal year 2019,” said Mike Baur, chairman and CEO at ScanSource. “In North America, we are executing on our strategic initiatives to offer technology solutions, services and recurring revenue as One ScanSource.”
Just last month, Andrew Pryfogle, IT industry veteran and former Intelisys senior vice president, cloud transformation, jumped ship to join Pax8, as its chief marketing development officer. Pryfogle worked at Intelisys, a ScanSource company, for seven years. At Intelisys, Pryfogle led the company’s cloud, marketing and corporate strategy efforts, and he was a member of the global strategy and M&A team for ScanSource.
ScanSource acquired IntY and its Cascade cloud services distribution platform in July, and Canpango, a Salesforce implementation and consulting partner, one year ago. Its Intelisys acquisition was made in 2016.
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