Buys cloud consultancy Coda Global, which partners with AWS, Microsoft, and Google
The Lowdown: The deal, which was announced this week, brings together Coda Global’s expertise in helping organizations migrate to the cloud with Presidio’s cloud strategy, architecture, and implementation services and its application rationalization and migration across hybrid cloud environments. No financial details were released.
The Details: New York-based Presidio focuses its solutions and services on the cloud, security, digital infrastructure, and emerging technologies, such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT). The company tailors hybrid cloud strategies for customers, leveraging capabilities from design and consulting to migration, integration, and managed services. Its solutions focus on data center modernization, hybrid cloud, and DevOps.
The company closely aligns its cloud offering with VMware, Amazon Web Services (AWS), and Intel.
Coda Global, based in Dallas, Texas, uses its DevOptimized cloud consulting approach to help companies more quickly bring solutions to market by using the cloud. The company, which partners with such cloud players as AWS, Microsoft, Google, and Red Hat, helps organizations pick technology solutions, modernize existing applications, migrate legacy software to the cloud, and develop custom applications.
The Impact: Organizations are increasingly embracing the hybrid cloud, with the move to the cloud accelerating during the COVID-19 pandemic as companies look to adapt to fast-changing business models. According to Flexera’s annual State of the Cloud report released earlier this year, 87% of businesses have a hybrid cloud strategy, with survey respondents using an average of 2.2 public clouds and 2.2 private clouds. In addition, 59% of enterprises expect cloud use to exceed what had been planned due to the global public health crisis.
Background: Presidio is a $3 billion company with about 7,900 customers in the midmarket, enterprise, and government sectors, and about 2,900 employees in the United States. The company was bought by private equity firm BC Partners for $2.2 billion in December 2019. BC Partners took Presidio private after the acquisition.
The Buzz: “By combining the deep skills and management depth that Coda brings to the table with the tremendous expertise of the existing Presidio solutions portfolio in cloud, security, and digital infrastructure, we can now provide clients with a comprehensive agile, secure, hybrid cloud infrastructure platform that is not only agile and high performing, but also secure throughout,” Presidio CEO Bob Cagnazzi said. “We believe our clients will see immediate benefits from this winning combination.”
“We are excited about providing even greater value to clients, as our organizations share a core business model, complementary competencies, and common culture and values,” said Coda Global CEO Sam Fatigato. “Being sales-led with a focus on top-level engineering, having a track record of high levels of customer satisfaction, and possessing the ability to deliver real business and IT services and solutions to our clients has been a hallmark of both Presidio and Coda through the years.”