Wayside Technology Group To Acquire Spinnakar Limited For $11.8M

8/18/22 8:50:53 AM ET

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Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has completed the acquisition of Spinnakar Limited ("Spinnakar"), a UK-based IT channel distributor, for an aggregate purchase price of $11.8 million (£9.8 million) payable at closing (subject to working capital and other adjustments), plus a potential post-closing earn-out. The Company funded the acquisition of Spinnakar utilizing cash from the Company's balance sheet.

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Date	Price Target	Rating	Analyst
10/19/2022	$40.00	Outperform	Barrington Research

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Wayside Technology Group Rebrands to "Climb Global Solutions"
EATONTOWN, N.J., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, is announcing a corporate rebrand from Wayside Technology Group to Climb Global Solutions, effective October 31, 2022. "Growing the Climb brand at a global scale has been a key initiative across the organization," said Dale Foster, CEO of Climb Global Solutions. "Brand recognition with a high-touch, customer service focus is important as our business grows internationally. We pride ourselves in performing at an exceptional level while conti
10/27/22 4:05:00 PM ET
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Climb Channel Solutions Partners with Viking Enterprise Solutions to Provide Affordable, Secure and Scalable Public Cloud Alternative
EATONTOWN, N.J., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Wayside Technology Group, Inc. (NASDAQ:WSTG), is partnering with storage and server market leader Viking Enterprise Solutions to offer their Cloud Native Obsidian storage solution. The exponential growth of unstructured data has put enterprises in a challenging situation where they are now paying large, unpredictable, recurring fees to public cloud providers – and having to deal with performance, security, control, continuity, and complexity issues. This new partnership brings a cost-controlled, flexible storage alternative to public
10/26/22 7:00:00 AM ET
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Wayside Technology Group Sets Third Quarter 2022 Conference Call for November 3, 2022 at 8:30 a.m. ET
EATONTOWN, N.J., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, will host a conference call on Thursday, November 3, 2022 at 8:30 a.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2022. The Company's results will be reported in a press release prior to the call. Wayside management will host the conference call, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing [email protected]. Dat
10/25/22 8:00:00 AM ET
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Wayside Technology Group Sets Third Quarter 2022 Conference Call for November 3, 2022 at 8:30 a.m. ET
EATONTOWN, N.J., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, will host a conference call on Thursday, November 3, 2022 at 8:30 a.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2022. The Company's results will be reported in a press release prior to the call. Wayside management will host the conference call, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing [email protected]. Dat
10/25/22 8:00:00 AM ET
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Wayside Technology Group to Acquire EMEA Channel Distributor, Spinnakar Limited
Acquisition Expands Wayside's Reach in EMEA and Strengthens Product Offerings in Storage, Cloud, Security and Data Management Transaction Expected to be Accretive to Gross Margin and EPS Spinnakar Founder and CEO Gerard Brophy to Join Company as a Managing Director EATONTOWN, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has completed the acquisition of Spinnakar Limited ("Spinnakar"), a UK-based IT channel distributor, for an aggregate purchase price of $11.8 million (£9.8 million) payable at
8/18/22 8:45:00 AM ET
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Wayside Technology Group Reports Second Quarter 2022 Results
Net Income Up 56% to $2.8 Million or $0.63 per Share, with Adjusted EBITDA (non-GAAP) up 27% to $4.5 Million Fifth Consecutive Quarter of Double-Digit Profitability Improvements EATONTOWN, N.J., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, is reporting results for the second quarter ended June 30, 2022. Second Quarter 2022 Summary vs. Same Year-Ago Quarter Net sales were $67.9 million compared to $75.4 million.Adjusted gross billings (a non-GAAP financial measure defined below) increased 3% to $241
8/3/22 4:05:00 PM ET
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Wayside Technology Group Elects Greg Scorziello to Board of Directors
EATONTOWN, N.J., Feb. 22, 2022 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Wayside Technology Group, Inc. (NASDAQ:WSTG), a value-added global information technology (IT) channel company providing innovative sales and distribution solutions for emerging technology vendors, has elected Greg Scorziello to the Board effective February 22, 2022. With the appointment of Scorziello, Wayside's Board consists of seven directors, six of whom are independent under the listing standards of the NASDAQ. Greg Scorziello brings over 30 years of experience creating and building international operations for early stage and mid-size companies such as EMC when it was a sub 100 person entity.
2/22/22 4:05:00 PM ET
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Wayside Technology Group Announces Resignation of Carol DiBattiste from Board of Directors
EATONTOWN, N.J., Oct. 15, 2021 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has announced Carol DiBattiste's resignation from its Board of Directors (the "Board") to pursue other interests. Commenting on her resignation, DiBattiste stated: "I have really enjoyed my time on the Board and thank the Directors and Company Leadership for their great work and collaboration. I am grateful for having had the opportunity to contribute to the Board's and the Company's success." "On behalf of the Board and management team, I
10/15/21 8:00:00 AM ET
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Forian Inc. Announces $24 Million Private Placement of 3.5% Convertible Notes due 2025, Appoints New Chief Financial Officer
NEWTOWN, Pa., Sept. 1, 2021 /PRNewswire/ -- Forian Inc. (NASDAQ:FORA), a provider of technology, analytics and data science driven solutions for the healthcare and cannabis industries, today announced the following: Convertible Notes Offering The Company has entered into a convertible note purchase agreement (the "Note Purchase Agreement") with a select group of institutional and accredited investors pursuant to which the Company will issue $24,000,000 aggregate principal amount at 100% of par value of its 3.5% convertible notes due 2025 (the "Notes"). The Notes are convertib
9/1/21 4:15:00 PM ET
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Barrington Research Initiates Coverage On Wayside Technology Group with Outperform Rating, Announces Price Target of $40
Barrington Research analyst Vincent Colicchio initiates coverage on Wayside Technology Group (NASDAQ:WSTG) with a Outperform rating and announces Price Target of $40.
10/19/22 10:05:33 AM ET
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Wayside Technology Group To Acquire Spinnakar Limited For $11.8M
Wayside Technology Group, Inc. (NASDAQ:WSTG) ("Wayside" or the "Company"), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has completed the acquisition of Spinnakar Limited ("Spinnakar"), a UK-based IT channel distributor, for an aggregate purchase price of $11.8 million (£9.8 million) payable at closing (subject to working capital and other adjustments), plus a potential post-closing earn-out. The Company funded the acquisition of Spinnakar utilizing cash from the Company's balance sheet.
8/18/22 8:50:53 AM ET
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Wayside Technology Group To Acquire Spinnakar Limited For $11.8M

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Recent Analyst Ratings for
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Legrottaglie Vito covered exercise/tax liability with 433 shares, decreasing direct ownership by 0.80% to 53,836 units (SEC Form 4)

Foster Dale Richard covered exercise/tax liability with 869 shares, decreasing direct ownership by 0.89% to 97,147 units (SEC Form 4)

Bass Charles Edward covered exercise/tax liability with 784 shares, decreasing direct ownership by 2% to 34,930 units (SEC Form 4)

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Press Releases

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Wayside Technology Group Rebrands to "Climb Global Solutions"

Climb Channel Solutions Partners with Viking Enterprise Solutions to Provide Affordable, Secure and Scalable Public Cloud Alternative

Wayside Technology Group Sets Third Quarter 2022 Conference Call for November 3, 2022 at 8:30 a.m. ET

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SEC Form SC 13G/A filed by Wayside Technology Group Inc. (Amendment)

SEC Form SC 13G/A filed by Wayside Technology Group Inc. (Amendment)

SEC Form SC 13G/A filed by Wayside Technology Group Inc. (Amendment)

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SEC Filings

Wayside Technology Group Inc. filed SEC Form 8-K: Leadership Update

SEC Form 10-Q filed by Wayside Technology Group Inc.

Wayside Technology Group Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

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Financials

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Wayside Technology Group Sets Third Quarter 2022 Conference Call for November 3, 2022 at 8:30 a.m. ET

Wayside Technology Group to Acquire EMEA Channel Distributor, Spinnakar Limited

Wayside Technology Group Reports Second Quarter 2022 Results

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Leadership Updates

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Wayside Technology Group Elects Greg Scorziello to Board of Directors

Wayside Technology Group Announces Resignation of Carol DiBattiste from Board of Directors

Forian Inc. Announces $24 Million Private Placement of 3.5% Convertible Notes due 2025, Appoints New Chief Financial Officer

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Barrington Research initiated coverage on Wayside Technology with a new price target

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Barrington Research Initiates Coverage On Wayside Technology Group with Outperform Rating, Announces Price Target of $40

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