Solutions provider Presidio reportedly weighing IPO

Dive Brief:

Solution provider Presidio, worth more than $3 billion, is considering a potential IPO, according to a CRN report.
Private equity organization Apollo Global Management Group, which acquired Presidio 18 months ago, is reportedly interviewing bankers to prepare them from an IPO.
In the lagging IT solutions provider market, Presidio has grown more than 33% in the past four years, according to the report.

Dive Insight:

Presidio is one of the top Cisco, EMC and VMware solution providers.

"It has been a long, long time since a channel company went public," Martin Wolf, president of martinwolf M&A Advisors, told CRN. "This would be a momentous event – a big offering of a very valuable entity."

Presidio CEO Bob Cagnazzi has been credited with driving Presidio’s success. Since taking over as CEO, Cagnazzi has grown the company from $2.25 billion to more than $3 billion.

Big Data integration software company Talend went public last week, and cloud company Twilio did so just before that in late June. The back-to-back IPOs may signal some long-anticipated momentum for up-and-coming tech companies.