Press Release
TERRY FLOOD APPOINTED PRESIDENT OF LOGICALIS' NORTH AMERICAN OPERATIONSBloomfield Hills, MI – November 30, 2006 – Logicalis, Inc., a global provider of high performance technology, today announced the promotion of Chief Operating Officer Terry Flood to President of its $500 million North American division.
Flood succeeds Mike Cox as president. Cox will become chairman of the North American division.
The appointments will be effective as of March 1, 2007, to coincide with Logicalis’ new financial year. Flood, based at Logicalis’ North American headquarters in Bloomfield Hills, MI, will report to the new Logicalis Group CEO, UK-based Ian Cook, who is currently head of Logicalis’ European operations and will assume his new responsibilities simultaneously.
Flood’s promotion caps a spectacular year that has seen the company expand its client capabilities and geographic reach through two major acquisitions, launch an industry-first video-enabled product demonstration center, and skyrocket up the charts of the industry-recognized VARBusiness 500, a “Who’s Who” of technology businesses.
“Terry is the absolute right person to take this company further on its journey to greatness,” said Cox. “Since joining Logicalis in 2001 as Chief Financial Officer, he has led both our internal growth and our aggressive acquisition strategy, helping make us the company many of North America’s leading enterprises turn to today for intelligent solutions to their technology challenges.”
For the year ended February 28, 2006, Logicalis delivered another twelve months of record-breaking revenue growth. Revenue was $545.6 million, which includes $105.3 million arising from the acquisitions made during the year. This compares to revenue of $340.9 million from continuing operations in 2005. “The company is now heading towards becoming a $1 billion revenue organization and already employs over 1,000 people,” said Jens Montanana, Chairman of the Logicalis Group.
The majority of the Group’s revenues and profits are made in the US, said Montanana, who credited the North American group with playing a major role in “the tremendous overall growth in revenues and large improvements in the profitability of the Logicalis Group achieved over the last few years.”
“Flood’s knowledge and experience in the reseller and consulting markets as well as with venture capital and in mergers and acquisitions will be invaluable as we continue our acquisition strategy,” said Ian Cook, incoming Group CEO.
Logicalis is part of the Johannesburg-based Datatec group, which achieved a secondary listing on London’s AIM in October 2006.
With a total of 25 years of financial and operational management experience, Flood was promoted to Chief Operating Officer in 2006 after five years as CFO He moved to Logicalis from Q2 publishing, a Michigan based sports marketing and publishing firm whose clients included the National Hockey League, the National Basketball Association the US Tennis Association, NASCAR, and the PGA. Prior to joining Q2, Flood worked at Deloitte & Touche’s Detroit office as a consultant to Q2, then one of Deloitte & Touche’s clients. He joined Deloitte & Touche from auditing and consulting firm KPMG, where, based in San Jose, California, he worked mainly with high technology clients, including IBM and HP, international strategic partners of Logicalis.
Before KPMG, Flood was international audit and accounting manager for software developer Micro Focus. He joined Micro Focus from TRW’s Electromagnetic Systems Laboratory, where he worked as a financial business analyst.
Flood holds a bachelor’s degree from Western Michigan University and is a member of the American Institute of Certified Public Accountants.
Logicalis: We know IT, because we live IT™
Logicalis is a global provider of high-performance technology solutions. Logicalis and its affiliated companies employ 1,000 people worldwide, including highly-trained service specialists who specify, design, deploy and manage IT infrastructure to meet the needs of over 5,000 corporate and public sector customers. Logicalis maintains strong partnerships with technology leaders such as HP, IBM, Cisco and EMC.
Logicalis is a part of Logicalis Group, a division of Datatec Limited (JSE:DTC), a $3 billion multi-national Group listed on the AIM market of the LSE and the Johannesburg Stock Exchange. With its international headquarters in the UK, Logicalis Group has annualized global revenues of over $750 million from operations in the U.S., UK, Germany and South America. In North America, Logicalis' annualized revenues amount to some $500 million with over 500 employees in the U.S. For more information, visit www.us.logicalis.com.
