Wesco International Acquires entroCIM, an Innovator in Data Center and Building Intelligence Software

Rhea-AI Summary

Wesco International (NYSE: WCC) has acquired entroCIM, a leader in data center and building intelligence software, for an initial $30 million with potential earnouts based on performance. entroCIM's Central Intelligence Manager (CIM) is a browser-based application offering remote monitoring and actionable insights for commercial facilities. This acquisition aligns with Wesco's goal to enhance its services and provide data-driven intelligence to its global customer base. Wesco, a Fortune 500 company with over $22 billion in annual sales, serves various sectors including commercial, industrial, and government, through a global network of 800 branches in over 50 countries.

Positive

• Wesco International acquired entroCIM for $30 million with potential performance-based earnouts.
• entrocim's Central Intelligence Manager (CIM) offers a scalable, browser-based solution for monitoring and operational insights.
• The acquisition aligns with Wesco's strategy to enhance service offerings and provide data-driven intelligence.
• Wesco, a Fortune 500 company, has over $22 billion in annual sales.
• The company operates nearly 800 branches across more than 50 countries, ensuring strong global presence.

Negative

• Additional terms of the acquisition were not disclosed, leaving some uncertainty for investors.
• Potential earnouts based on performance could introduce future financial variability.

PITTSBURGH, June 5, 2024 /PRNewswire/ -- Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services and supply chain solutions, today announced it has completed the purchase of entroCIM, an innovator in data center and building intelligence software.

The initial purchase price was $30 million with the opportunity for an additional earnout based on performance. Additional terms of the transaction were not disclosed. entroCIM's Central Intelligence Manager (CIM) is an HTML5 browser-based application sold as-a-service to connect devices and remote monitoring systems in commercial facilities. It delivers actionable insights to help businesses reduce costs and improve operations through a single digital interface.

Today, entroCIM monitors millions of square feet in environments ranging from data centers and large commercial buildings to airports and universities. Through an open API architecture and out-of-the-box connectivity with industry standard protocols, entroCIM acts as an aggregation layer for multiple operating systems and is an accelerator of IT/OT convergence – helping to drive better operational visibility for data center and building applications. 

"We are pleased to welcome the entroCIM team to Wesco. This acquisition is indicative of the expanded services, data-informed intelligence and expertise that Wesco intends to provide to our global customers and supplier partners to drive increased value through the supply chain," said John Engel, Chairman, President and CEO of Wesco.

About Wesco

Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500^® company with more than $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.

Contact:
Jennifer Sniderman
Vice President, Corporate Communications
Jennifer.sniderman@wesco.com
717-579-6603

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SOURCE Wesco International

FAQ

What company did Wesco International acquire?

Wesco International acquired entroCIM, an innovator in data center and building intelligence software.

How much did Wesco International pay to acquire entroCIM?

Wesco International paid an initial $30 million with potential earnouts based on performance.

What is entroCIM's main product?

entrocim's main product is the Central Intelligence Manager (CIM), a browser-based application for remote monitoring and operational insights.

How will the entroCIM acquisition benefit Wesco International?

The acquisition will enhance Wesco International's service offerings with data-driven intelligence, supporting its global customer base.

What sectors does Wesco International serve?

Wesco International serves commercial, industrial, and government sectors, among others.

What is Wesco International's annual sales figure?

Wesco International has over $22 billion in annual sales.

How many branches does Wesco International operate?

Wesco International operates nearly 800 branches, warehouses, and sales offices in more than 50 countries.