ePlus Inc. (NASDAQ: PLUS) disclosed the acquisition of the business of System Management and Planning, Inc. (SMP). SMP Inc. is best known for its services as the technology solutions provider in New York and Northeast. ePlus aimed to strengthen its position in the Northeast.
Its technology solutions will be helpful for employees working remotely. This new deal with SMP will provide opportunities for the company in the areas of collaboration. SMP is best known for its complete set of collaboration, AI, cloud, audio/visual, data center, and staffing solutions, as well as administered and expert services.
Shares of ePlus Inc. (NASDAQ: PLUS) soared 1.83% during the trading session of Monday. In the past 52-weeks of trading, this firm’s share went from the low point around $42.53 to briefly over $92.44. Its shares moved up 106.80% from its 52-weeks low and plummeted to -4.86% from its 52-weeks high.
Looking at its profitability, it as return on equity, and assets is 14.10%, and 7.10%. Its Gross Margin is 24.80%, Profit Margin is 4.40% and Operating Margin is 6.20%%. Turing our focus on its liquidity, it has a current ratio of 1.60 and a quick ratio of 1.50. This company’s market cap has remained high, hitting $1.17 billion at the time of writing.
This acquisition will be helpful for the company as SMP is known for its long-term relationship with the customers. The acquisition of SMP will allow PLUS to expand its services in the region. Its main focus is on collaboration and related solutions to provide support to workers who work from home. The combination of both firms will allow customers to get help from the technology solutions of both companies. This deal is anticipated to finalize on Dec 31, 2020.