Widget has been acquired by value-added distributor CMS Distribution.
Widget founder and chairman Mark Needham has exclusively told PCR that Widget will continue to serve its UK customers from its base in Stevenage.
Needham also told us that its Dutch operation is expected to expand as the combined group uses it as a base to expand in continental Europe.
Commenting on the acquisition, Frank Salmon, founder and managing director of CMS Distribution said: “We are delighted to have teamed up with Widget Group, they are experts in emerging consumer technologies with an impressive portfolio of vendors in the UK and Europe.
“They have a large and loyal customer base and, like CMS, they are an award winning distributor in their field.”
The decision to buy Widget Group was based on several inherent synergies between the two organisations, including growth plans, leverage, scale and a track record of success.
Following the acquisition, CMS Distribution will target combined revenues of £300m+ for FY’16 and now employs 250 people across the UK, Ireland and the Netherlands.
CMS will continue to run the business under Widget Group’s brands for the foreseeable future and Widget’s leadership and management team will remain and continue to focus on the growth of the business.
Needham added: “It’s a great move for Widget as well as the vendors and customers we represent and the staff we employ. Being part of a larger, value-add distribution business brings tremendous opportunities for the future and we are excited by the next stage in the joint CMS-Widget journey.”
Salmon concluded: “We are changing the game in IT distribution. We are combining scale and specialisation for our vendors and customers both in the UK and Ireland and now across Europe. We are on track with our vision to become the leading specialist distributor in Europe.”
Need ham will be taking part in this year’s PCR Boot Camp conference and expo, where he will be sitting on the Ask a Distie interactive Panel Q&A. Delegates will get the chance to grill senior figures from the distribution sector in a no holds barred interactive Q and A session on the day.
For more information about PCR Boot Camp 2016 and to register to attend for FREE, visit www.pcrbootcamp.com