Herndon IT services company ePlus Inc. (NASDAQ: PLUS) has purchased Future Com Ltd., a cybersecurity and cloud security company headquartered in Grapevine, Texas.
Terms of the deal were not disclosed.
EPlus said Monday the acquisition provides it with enhanced engineering, sales and services in Texas and surrounding markets and strengthens its growing cybersecurity business — a segment CEO and President Mark Marron said in a statement now accounts for more than $500 million in annual adjusted gross billings.
Future Com offers cybersecurity hardware, software and consulting services to a variety of clients, including health care companies and large to mid-market businesses as well as government and educational agencies. It counts 25 employees across its ranks.
“We have decades of specialized experience helping our customers navigate the evolving cybersecurity landscape and new emerging threats,” Douglas Hollenshead, the president and CEO of Future Com, said in a statement. “Being acquired by ePlus means that our customers now have access to the expanded capabilities and deeper breadth of resources a global provider can offer.”
EPlus, which boasts a headcount of roughly 1,500, said in its 2021 annual report that strategic acquisitions “remain a fundamental component” of its growth strategy. The Future Com acquisition is the company’s first since early 2021, when it absorbed Rochester, New York, IT services provider System Management and Planning Inc.
“Underpinned by our strong balance sheet, we will continue to identify and evaluate acquisition opportunities that can further accelerate our growth, expand our geographic reach and broaden our technology solution and service offerings,” ePlus said in its 2021 annual report.
EPlus posted $1.82 billion in revenue and $105.6 million in net earnings across its fiscal 2022, which ended March 31. Those numbers are up from $1.57 billion and $74.39 million, respectively, from fiscal 2021.
