Climb Global Solutions, Inc. Acquires Douglas Stewart Software & Services, LLC, Expanding Reach in North America and Strengthening Education Sector Offerings
EATONTOWN, N.J., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Climb Global Solutions, Inc. (NASDAQ:CLMB), a value-added global IT channel company specializing in unique sales and distribution solutions for innovative technology vendors, announced it is acquiring Douglas Stewart Software & Services, LLC ("DSS"), a separate division of the privately held Douglas Stewart Company. DSS is a Wisconsin-based, leading specialty distributor focused on SaaS solutions for education customers in North America. The acquisition enhances Climb's presence in the region and bolsters its product portfolio.
Climb closed on the acquisition of DSS for an aggregate purchase price of $20.3 million payable at closing (subject to working capital and other adjustments), plus a potential post-closing earn-out. Climb funded the acquisition of DSS utilizing cash from the company's balance sheet. For the trailing twelve months, ending June 30, 2024, DSS reported adjusted EBITDA of approximately $5.3 million, which was up 10% over the same period in the prior year.
"Today, we are continuing with our organic growth by adding scale and expertise to our North American operations along with 20 new vendor partners including Adobe, Go Guardian and Incident IQ. DSS has delivered consistent growth through a subscription-based software licensing model, built on an 85%+ retention rate for its strategic vendor partners' offerings," said Climb CEO, Dale Foster. "DSS is a proven leader in the EdTech channel and provides services to more than 500 value-added resellers and 250 campus stores across NA in both the K-12 and higher education markets. We are pleased to welcome Chuck Hulan and his team to the Climb family and look forward to unlocking synergies and cross-selling opportunities while advancing shared cloud marketplace initiatives as we integrate DSS into our platform in the months ahead."
Commenting on the acquisition, DSS CEO Chuck Hulan stated: "DSS is dedicated to empowering the education community with solutions that improve learning experiences for all students. Leveraging the software-centric infrastructure Dale and his team have built at Climb, we look forward to being able to rapidly innovate on the types of solutions and services we can provide to Climb's vendors and bring new customers to our existing supplier partners too. We will bring education-specific customer analysis and targeting to applicable Climb vendors to help extend and expand their business, while enabling us to reach a broader audience and deliver additional resources to best serve the education market."
Those interested in distribution services and solutions should contact Climb by phone at +1.800.847.7078 (US), or +1.888.523.7777 (Canada), or by email at [email protected].
About Climb Channel Solutions and Climb Global Solutions
Climb Channel Solutions is a global specialty technology distributor focusing on Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle. What sets Climb apart is our commitment to transform distribution by providing emerging and established IT technologies, flexible financing, real-time quoting, best of breed channel operations, speed to market, and exceptional service to our partners worldwide. Climb Channel Solutions is a wholly owned subsidiary of Climb Global Solutions (NASDAQ:CLMB). Experience the Climb difference and learn how our people-first approach empowers VARs and MSPs to grow, scale, and accelerate their business. Visit www.ClimbCS.com, call 1-800-847-7078, and connect with us on LinkedIn!
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About Douglas Stewart Software Services, LLC
DSS is a trusted expert in educational technology, spanning back over 37 years. With decades of experience and a commitment to innovation, DSS continues to lead the way in delivering cutting-edge solutions to empower educators and enhance learning experiences. DSS stands at the forefront of education technology distribution in North America.
Operating as a dynamic business unit of the Douglas Stewart Company, where education has been a focus since 1950, DSS works with top-tier Edtech providers to deliver solutions to K-12, Higher Ed, & Non-Profits through 800+ reseller partners. DSS was established in 2021 to cater to the distinct requirements of software subscription licensing (Software as a Service/SaaS) in North America.
