Insight acquires Texas software giant
September 8th, 2006 . by
Insight Enterprises Inc. Thursday announced completion of its acquisition of Software Spectrum for $287 million in cash.
Plano, Texas-based Software Spectrum, which provides business-to-business information technology solutions and services, is a subsidiary of Level 3 Communications Inc. 
(NASDAQ:LVLT). The Texas company has sales and operations centers in North America, Europe, the Middle East, Africa and the Asia-Pacific region.
“Combining the software expertise of Software Spectrum with Insight’s expertise in hardware and services solidifies our value proposition as a trusted adviser of business solutions to our clients,” said Chief Executive Rich Fennessy. “With this more robust offering, we are prepared to execute Insight’s global vision by penetrating deeper into global markets where Software Spectrum already has an established footprint.”
Software Spectrum’s net sales and earnings from operations in 2005 were approximately $1.9 billion and $21.3 million, respectively. The deal also calls for a working capital adjustment estimated at $33.3 million.
Tempe-based Insight (NASDAQ:NSIT) is a technology solutions provider.
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