Livingstone Advises Leading Cloud Consulting Firm on Sale
Livingstone’s Business Services team is pleased to announce the sale of Cardinal Solutions Group (“Cardinal” or “The Company”) to Insight Enterprises (NASDAQ:NSIT), an Intelligent Technology Solutions™ provider (“Insight”). Livingstone acted as the exclusive financial advisor to Cardinal.
Cardinal Solutions Group brings more than 20 years of experience as a national solution provider of creative information technology solutions. Headquartered in Cincinnati, Ohio with eight locations throughout the Midwest and Southeast, the Company has won multiple awards, including 2017 Worldwide Microsoft Partner of the Year, OpenSource on Azure, and was designated a 2018 MSUS Partner for Apps and Infrastructure. The award-winning company has established a process to digitally transform organizations through cloud enablement, business intelligence, mobile applications, collaboration, user experience, and design.
“We knew from the start that this process was going to be a challenging and complicated journey,” stated Kelly Conway, Founder and CEO of Cardinal. “From the day we started to the day we closed, the Livingstone team did an amazing job for us. I am so glad that we picked Livingstone. Their knowledge, talent, organizational skills, and instincts made this whole thing possible.”
After running a competitive sale process, Cardinal chose Insight based on meaningful business synergies, a strong cultural fit, and complementary product offerings. The combination will incorporate the Company into Insight’s Digital Innovation solution area, complimenting previous acquisitions BlueMetal (2015) and Ignia (2016), to establish Insight as one of the top partners in the Microsoft ecosystem and a dominant player in digital innovation. Together, the breadth and scale of the offering will increase service offerings and value to clients worldwide.
Mike York, Founder and EVP of Cardinal stated, “The Livingstone team did a great job helping us articulate a story that showed our full value. They guided us through a process that led to multiple options for us to reach our go-forward goals.”
Fortune 500-ranked Insight is a global provider of digital innovation, cloud/data center transformation, connected workforce, and supply chain optimization solutions and services helping clients successfully run their IT. Headquartered in Tempe, Arizona, with seven locations worldwide, Insight employs 6,800 workers globally.
“We were proud to run a competitive process that resulted in an optimal outcome between these two companies,” stated Brennan Libbey, Partner at Livingstone. “As technology continues to evolve, IT companies like Cardinal and Insight are fundamental to helping industries evolve and compete successfully in the global economy.”
The Cardinal transaction highlights Livingstone’s expertise in the Technology and Business Services sectors following other recent notable transactions, including Advocate Solutions, GFX International, PEI Media Group and LAW Business Research Limited.
