Dublin, Ireland, 30th September 2022, ZEXPRWIRE, Wise World Holdings, Inc., (WWH) announced that the acquisition of eCentres Technologies has been completed. eCentres Technologies is a world-class leader in providing reliable zero-touch computing solutions that support the continuity of business-critical applications of Fortune 500 companies as well as small to mid-sized companies.
The president and CEO of WWH, Jacob Adamski, said that they are excited to add eCentres to the business family of WWH. The services that eCentres delivers complement what WWH offers through their Intelligent Gold Solution (IGS) business group. eCentres will continue their operations within IGS. The acquisition is another example of WWH’s many milestones in their continued goal of providing innovative computing solutions that support and advance their customers, business partners, and the world.
eCentres brings a solid base of clients from Fortune 100 companies. Its computing platforms and specialised offerings fit perfectly into the current portfolio of IPS, focusing on AI, IoT, HPC and Edge technologies. In a joint effort, IGS and eCentres will answer the industry’s demand for Edge, Core, and Cloud-based computing solutions that will further unlock more growth opportunities for WWH while providing their global customers with immeasurable benefits.
Gustav Laurento, the president and CEO of eCentres since 2010, will continue to lead eCentres . He will also take on an additional role as the Senior Vice President of Corporate Development at WWH. .
As reported earlier, the final purchase price of the acquisition that was payable at the transaction’s closing was $425 million. This is subject to the customary adjustments for working capital, asset value and other adjustments and discussion. In addition, based on the gross financial performance of eCentres during the first twelve full fiscal months following the completion of the acquisition, WWH will be required to pay any contingent considerations of up to $80 million. The acquisition is anticipated to provide immediate incremental growth for the company’s non-GAAP gross margin and earnings per share as well as cash flow. Making it a good bet for those looking how to plan for their family’s future through investment.
In the company’s next call for quarterly earnings, which will take place in October for WWH’s fourth quarter and fiscal year 2022 financial results, WWH will provide an update on the acquisition of the company. Dial-in instructions and more details on the webcast will be announced at a future date.