Powerland Acquired By Xerox
Sellside Advisor To Powerland
7 Mile Advisors Announces Powerland Has Been Acquired By Xerox
The acquisition will further expand Xerox’s IT Services offerings across North America.
CHARLOTTE, NC – Powerland, a leading Canadian IT Services provider, has been acquired by Xerox Holdings Corporation (NASDAQ: XRX). The acquisition strengthens Xerox’s IT Services offerings in North America, which include cloud, cyber security, end user computing, and managed services.
7 Mile Advisors acted as the exclusive sellside advisor to Powerland throughout the acquisition.
“Powerland has established a strong presence in the Canadian IT solutions market over several decades. Their focus on enterprise-scale solutions and innovations related to Hardware As A Service, Cloud Computing and Machine Learning made them a natural fit for a strategic buyer focused on being a market leader,” said Andy Johnston, Partner, 7 Mile Advisors.
“We couldn’t be happier to have selected 7 Mile as our sell-side advisor in the sale of Powerland to Xerox. 7MA’s process was well-organized, efficient, and led to options including PE platform plays, joining PE backed strategics, and complete acquisitions by some of the leading strategics in our sector. 7MA’s advice, guidance, knowledge of the market, and ability to position Powerland led to an outcome that exceeded my expectations,” commented Mike Legary, Chairman, Powerland.
Powerland serves customers throughout Canada and provides a wide array of technology solutions and services including cloud, hybrid cloud, cyber security, and end-user computing solutions based on individual business needs. Powerland recently earned 2021 industry accolades including Nvidia Partner of the Year, Dell Marketing Partner of the Year North America, HPE Service Partner of the Year and Tech Data Circle of Excellence.
“We are thrilled to join a world-class innovator like Xerox and look forward to enhancing business outcomes and technology transformations for our clients across Canada,” said Curtis Dery, executive vice president, Powerland.
7 Mile Advisors has closed five transactions so far in 2022. Coming off a year with 32 closed transactions, the firm expects momentum to continue as the need for IT Services and Digital Transformation expertise drives M&A.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to power today’s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things, and cleantech. Learn more at xerox.com.