VERNON HILLS, Ill. – Shareholders of CDW Corp., a B2B provider of technology products and services, have approved the company’s sale to VH Holdings Inc., a corporation controlled by investment funds of Providence Equity Partners Inc. and Madison Dearborn Partners LLC.
The all-cash deal will pay each holder of CDW common stock $87.75 per share, which will add up to a purchase price of $7.3 billion. CDW said it expects the deal to close late in the third quarter of 2007.
Since its founding in 1984, CDW has grown to employ about 5,880 people and generate annual sales of $6.8 billion. Its customers include business, government and educational institutions.
The company’s business model revolves around supplying each customer with a dedicated service person, who then directs them to the services and products that fit their needs.
For more information about CDW Corp., go to www.cdw.com.
Providence Equity Partners Inc. is a global private investment firm based in Providence, with offices in New York City and London, that specializes in media, entertainment, communications and information companies. It has raised $21 billion through seven funds since its founding in 1989. Additional information is available at www.provequity.com.
