PC Mall Changes its Corporate Name to PCM, Inc. and Ticker Symbol to PCMI
EL SEGUNDO, Calif.--(BUSINESS WIRE)--
PCM, Inc. (NASDAQ: PCMI) formerly PC Mall, Inc. (NASDAQ:MALL) announced
today that effective December 31, 2012, we have changed our legal
corporate name to PCM, Inc. from PC Mall, Inc. In connection with the
rebranding, effective January 2, 2013, our Common Stock commenced
trading on NASDAQ under the ticker PCMI and no longer trades under the
prior ticker of MALL.
In addition, effective December 31, 2012, we have combined our primary
commercial subsidiaries PC Mall Sales, Inc., Sarcom, Inc. and PC Mall
Services, Inc. into a single subsidiary. The combined subsidiary will
operate under the unified commercial brand PCM and will generally
include our SMB, MME and portions of our Corporate & Other segments.
Additionally, in connection with the rebranding, effective December 31,
2012, our PC Mall Gov, Inc. subsidiary changed its name to PCMG, Inc.
and will operate under the PCM-G brand.
Commenting on the changes, Frank Khulusi, PCM's Chairman and Chief
Executive Officer, said "Over the past several years, our company has
grown into an approximately $1.5 billion enterprise in part through our
acquisition and internal cultivation of different brands. We have
historically differentiated those brands primarily based on the identity
of the customers they serve. After careful examination of the trends
taking shape in the markets we serve, we determined that going forward,
our commercial customers can benefit from a more unified and streamlined
brand strategy. Accordingly, we have consolidated our commercial brands
and realigned our customer segments in an effort to realize significant
growth and to achieve a more efficient cost structure. We are very
excited about this evolution as we believe it will lead to an improved
customer experience, operational synergies and benefits to all of our
stakeholders, leveraging a brand that better represents the technology
solutions provider we have become."
About PCM, Inc.
PCM, Inc., through its wholly-owned subsidiaries, is a leading
technology solutions provider to small and medium sized businesses,
mid-market and enterprise customers, government and educational
institutions and individual consumers. Effective after close of business
on December 31, 2012, the company changed the corporate name from PC
Mall, Inc. to PCM, Inc. and combined its primary commercial subsidiaries
PC Mall Sales, Inc., Sarcom, Inc. and PC Mall Services, Inc. into a
single subsidiary. The combined subsidiary will operate under the
unified commercial brand PCM and will generally include our SMB, MME and
portions of our Corporate & Other segments. Additionally, in connection
with the rebranding and effective December 31, 2012, our PC Mall
Gov, Inc. subsidiary changed its name to PCMG, Inc. and will operate
under the brand PCM-G. In the 12 months ended September 30, 2012, we
generated approximately $1.5 billion in revenue and now have
approximately 2,900 employees, over 68% of which are in sales or service
positions. For more information please visit investor.pcm.com
or call (310) 354-5600.
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include statements regarding our
expectations, hopes or intentions regarding the future, including, but
not limited to statements related to strategic developments such as
statements related to our growth and operating efficiencies, an improved
customer experience, operational synergies and other benefits to
stakeholders, expected cost savings and overall cost structure,
selective investments in our services capabilities, our positioning in
the marketplace and for the future success of our business, our
reorganization, brand strategy and related potential benefits, or other
statements or expectations or goals for growth or profitability.
Forward-looking statements involve certain risks and uncertainties, and
actual results may differ materially from those discussed in any such
statement. Factors that could cause our actual results to differ
materially include without limitation risks and uncertainties related
our advertising, marketing and promotional efforts, which may be costly
and may not achieve desired results. Additional factors that could cause
our actual results to differ are discussed under the heading "Risk
Factors" in Item 1A, Part II of our Form 10-Q for the period ended
September 30, 2012, on file with the Securities and Exchange Commission,
and in our other reports filed from time to time with the SEC. All
forward-looking statements in this document are made as of the date
hereof, based on information available to us as of the date hereof, and
we assume no obligation to update any forward-looking statements.
Genesis Select Corporation
Matt Selinger, Partner
Source: PCM, Inc.
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