It's final: CDW goes private
- By Michael Hardy
- Oct 15, 2007
CDW Corp. has fulfilled its ambitions to return to private ownership. The Vernon Hills, Ill.-based technology reseller has been acquired by an entity affiliated with Madison Dearborn Partners LLC and Providence Equity Partners Inc.
CDW, which sells to federal customers through business unit CDW-G, ceased trading on the Nasdaq stock exchange at market close Friday. The company entered into a merger agreement with the acquirers in May, and shareholders approved the plan in August. Shareholders will get $87.75 in cash per share, for a total of about $7.3 billion.
CDW Executive Vice President Jim Shanks said
in July that the company's decision to retreat from the public stock market was to gain more flexibility in making business decisions, without the quarter-to-quarter demands of stockholders.
CDW officials promised the company's government business will not change as a result of the merger. Founded in 1984, CDW has about 5,800 employees.
Technology journalist Michael Hardy is a former FCW editor.