PC Connection explained

PC Connection, Inc.
Type:Public
Traded As:NASDAQ:
S&P 600 Component
Russell 2000 Component
Founder:Patricia Gallup
Key People:Patricia Gallup (chairman)
Timothy McGrath (president and CEO)
Thomas C. Baker (SVP, CFO, and Treasurer)
Products:Notebooks/Mobility, Software, Servers/Storage, Net/Com Product, Other Hardware/Services
Revenue:$3.2 billion USD (2022)
Num Employees:2,600+
Location City:Merrimack, New Hampshire
Location Country:U.S.

PC Connection, Inc., doing business as Connection, is headquartered in Merrimack, New Hampshire. It has more than 2,600 employees[1] and sells more than 460,000 products.[2]

Founded in 1982, Connection has grown to include IT services to SMB, enterprise, and public sector markets.[3]

History

PC Connection, Inc. was founded in 1982 by Patricia Gallup and David Hall. The co-founders met while serving as a support crew to hikers on the Appalachian Trail.[4]

The company's first headquarters occupied a former woodworking mill in Marlow, NH population 542 at the time. To launch their business, Gallup and Hall used Gallup's savings of $8,000 to purchase inventory and take out a 1/9th-page ad in Byte magazine.[5] In 1984, they started selling Macintosh products under the MacConnection brand.

In 1987, PC Connection was named to the Inc. 500 as the second fastest growing company in the United States.[6]

In March 1998, the company completed its initial public offering on the NASDAQ exchange under the symbol PCCC.[7]

In September 2016, the company announced a corporate rebranding. The "Connection" brand unites all subsidiaries (PC Connection, MacConnection, GovConnection, MoreDirect, and Softmart) under one brand name. NASDAQ stock ticker changes from PCCC to CNXN.[8]

Locations

In addition to its corporate headquarters in Merrimack, PC Connection, Inc. has sales and support offices in Keene, New Hampshire; Rockville, Maryland; Dakota Dunes, South Dakota; Boca Raton, Florida; Schaumburg, IL; and Exton, Pennsylvania.[9] The company operates a 268,000-square-foot distribution and fulfillment complex, equipped with a technical configuration lab in Wilmington, Ohio.[10]

Acquisitions

In 1999, Connection purchased ComTeq Federal, a Maryland-based company serving the computing needs of federal government agencies, including the Navy, Federal Deposit Insurance Corp, the National Security Agency, and Internal Revenue Service.[11] Renamed GovConnection, Inc., the subsidiary serves all government and education customers.

In January 2000, Connection announced the agreement to acquire Merisel Inc.[12]

In 2002, Connection acquired MoreDirect, a Florida-based company specializing in Web-based eProcurement.[13]

In 2005, Connection purchased the business and selected assets of Amherst Technologies, Inc., a New Hampshire-based IT provider.[14]

In 2011, Connection acquired ValCom Technologies, a technology services company in the Chicago metropolitan area.[15]

In 2016, Connection acquired Softmart, a supplier of hardware and software.[16]

In 2016, Connection acquired GlobalServe, a global reseller.

Notes and References

  1. Web site: PC Connection: New "Connection" Brand Advances 35-Year History of Innovation) . September 8, 2016. 4-traders.
  2. News: Profile: PC Connection Inc . https://web.archive.org/web/20150610195108/http://www.reuters.com/finance/stocks/companyProfile?symbol=PCCC.O . dead . June 10, 2015 . Reuters . November 15, 2013.
  3. Web site: PC Connection: New "Connection" Brand Advances 35-Year History of Innovation) . September 8, 2016. Yahoo Finance.
  4. http://www.inc.com/magazine/19980515/1123.html You, Me, and All Those Others Just Like Us, Starting a Business Article | Inc.com
  5. http://www.pageturnpro.com/A-division-of-New-England-Business-Media-LLC/35311-New-Hampshire-First-In-the-Nation/index.html#172 [New Hampshire: First In the Nation&#93; – Powered by PageTurnPro.com<!-- Bot generated title -->]
  6. http://www.pageturnpro.com/A-division-of-New-England-Business-Media-LLC/35311-New-Hampshire-First-In-the-Nation/defaultie.html#172 [New Hampshire: First In the Nation&#93; – Powered by PageTurnPro.com<!-- Bot generated title -->]
  7. http://www.nasdaq.com/markets/ipos/company/pc-connection-inc-3148-5311 Pc Connection Inc (Pccc) Ipo - Nasdaq.Com
  8. https://thejournal.com/articles/2016/09/08/connection-merges-govconnection-pc-connection-moredirect-softmart-into-single-brand.aspx Connection Merges GovConnection, PC Connection, MoreDirect, Softmart into Single Brand
  9. Web site: Locations – Connection . Pcconnection.com . 2016-09-09.
  10. Web site: Distribution and Configuration Center – Connection . Pcconnection.com . 2016-06-08 . 2016-09-09.
  11. Web site: Johnston . Margret . PC Connection buys ComTeq Fed . FCW . 1999-07-11 . 2016-09-09.
  12. Web site: PC Connection Acquires Merisel's Call Center . January 4, 2000 . Nov 20, 2013.
  13. https://web.archive.org/web/20131220234402/http://business.highbeam.com/137451/article-1G1-89395107/pc-connection-pc-mall-make-acquisitions PC Connection, PC Mall Make Acquisitions. (PC Connection Inc. acquires MoreDirect)(PC Mall Inc. acquires Pacific Business Data Systems Inc.) (Brief Article)
  14. http://www.crn.com/news/channel-programs/172303244/pc-connection-wins-bidding-war-for-amherst-technologies.htm PC Connection Wins Bidding War For Amherst Technologies
  15. https://web.archive.org/web/20110910071240/http://www.businessweek.com/ap/financialnews/D9M17SGO0.htm PC Connection buys ValCom Technology for $11.6M – BusinessWeek
  16. http://www.sb.marketwatch.com/story/pc-connection-acquires-softmart-2016-05-27 PC Connection Acquires Softmart – MarketWatch