CDW was founded in 1984 and was taken private in 2007 by private equity firms Madison Dearborn and Providence Equity at a price of $7.3 billion. Today’s IPO had targeted proceeds of around $740 million, but the total came in at just shy of $400 million.
The company claims more than 250,000 business, government, education, and healthcare customers for more than 100,000 different technology products. Reported revenue for the quarter ending in March totaled $2.41 billion and profit came in at $28.3 million. In 2012, revenue totaled $10.1 billion and profit totaled $119 million.
Lead underwriters for the offering were J.P. Morgan, Goldman Sachs, and Barclays.
CDW’s shares are trading now at $18.52, up nearly 9% from the IPO price.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.