CHANDLER, Ariz. - Insight Enterprises (NASDAQ: NASDAQ:NSIT), a Fortune 500 solutions integrator, has announced the acquisition of Infocenter, a recognized ServiceNow (NYSE:NOW) Elite Partner. This move is aimed at enhancing Insight's automation solutions portfolio with a full range of ServiceNow consulting, implementation, and managed services. Infocenter, awarded the 2024 ServiceNow Americas Consulting and Implementation Partner of the Year, is known for assisting clients globally in implementing ServiceNow to achieve their digital transformation objectives.
The demand for intelligent enterprise automation has been rapidly increasing, with the market projected to reach $220 billion by 2025. Insight's acquisition of Infocenter is expected to strengthen its position in delivering industry-leading intelligent workflow automation solutions. These solutions are anticipated to be powered by AI, aiming to provide unified experiences and valuable insights across enterprises.
Infocenter's distinctive methodology for business process modernization on the ServiceNow platform will be integrated into Insight's Solutions Integrator framework. This includes Infocenter's RADIUS™ business process analysis for planning and designing tailored ServiceNow solutions, as well as their DEVSHOP™ enterprise managed services for continuous innovation and efficiency improvements in key business areas.
Joyce Mullen (NASDAQ:MULN), Insight's president and CEO, expressed confidence that the addition of Infocenter's deep ServiceNow expertise will significantly enhance their ability to deliver cross-enterprise experiences. Michael Vadini, CEO of Infocenter, echoed this sentiment, emphasizing the alignment of both companies' missions towards simplifying modernization and enhancing enterprise-wide transformation.
ServiceNow's chairman and CEO, Bill McDermott, recognized the acquisition as a significant milestone in their joint strategy to expedite business transformation within the ecosystem. Erica Volini, SVP of global partnerships and channels at ServiceNow, also highlighted the potential for this partnership to empower organizations in the digital age by leveraging the full capabilities of the ServiceNow platform.
Insight's client base is set to benefit from accelerated business value and enablement through this acquisition, complementing the company's existing multicloud capabilities with Microsoft (NASDAQ:MSFT) Azure, Google (NASDAQ:GOOGL) Cloud Platform, AWS, and private cloud infrastructure. The collaboration is anticipated to allow Insight to assist clients in harnessing generative AI and other enhancements provided by cloud hyperscalers.
This information is based on a press release statement.
InvestingPro Insights
Insight Enterprises (NASDAQ: NSIT) has recently made headlines with its strategic acquisition of Infocenter to bolster its automation solutions. As the company positions itself to capitalize on the growing demand for intelligent enterprise automation, let's delve into some key financial metrics and InvestingPro Tips that shed light on the company's current market standing and future potential.
InvestingPro data reveals that Insight Enterprises has a market capitalization of $5.9 billion, reflecting its significant presence in the industry. The company's Price-to-Earnings (P/E) ratio stands at 20.39 on a trailing twelve-month basis as of Q4 2023, which suggests a reasonable valuation compared to industry peers. Moreover, the firm's gross profit margin for the same period is 18.19%, indicating its ability to maintain profitability despite competitive pressures.
Two InvestingPro Tips that could be particularly relevant for investors considering Insight Enterprises' stock are:
- Management's aggressive share buybacks could signal confidence in the company's value proposition and future growth prospects.
- The company's valuation implies a strong free cash flow yield, which can be attractive for investors looking for companies with the potential to generate ample cash flows relative to their share price.
These insights, among others, are part of a broader set of InvestingPro Tips available for Insight Enterprises. For those interested in a deeper dive, there are an additional 11 tips that provide a more comprehensive analysis of the company's financial health and market position. Access these valuable insights by visiting InvestingPro and use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
As Insight Enterprises integrates Infocenter's ServiceNow expertise into its solutions framework, these financial metrics and InvestingPro Tips offer investors a snapshot of the company's economic landscape and potential investment quality.
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