His route to Presidio was through the company he founded, Bluewater Communications, which he led from its establishment in 2006 until it was merged with Presidio in 2012. He then took up the chief executive role of Presidio. At the time, the company had been without a chief executive since the departure of Joel Schleicher in 2011.International expansion has been one focus for the business under his leadership. Cagnazzi is in Ireland to visit the company’s European operation.
“It’s been a great acquisition. It’s a terrific business, and it’s given us the opportunity to start planting a flag over here in Ireland which is obviously a rich tech economy,” says Cagnazzi. “A lot of their customers were not only our customers but also our partners as well.” “Then it’s an organisation that’s built to scale, so that we can scale our solutions into that business and then can start rolling out a broader breadth of solution sets to the client base.”“We saw a really strong culture, we saw a great management team. A lot of relevant technology areas, but we also felt that we can supplement them with our technology areas, because they had strong account management, architecture and delivery engineering capabilities.
Cagnazzi witnessed it from both sides. A New Yorker born in Hell’s Kitchen, these days he lives on the North Fork, across from the Hamptons. During Covid, he said, there was a lot of people upping sticks and moving out to the Hamptons as lockdowns cleared out the more crowded urban areas. And with that move came a shift to digital transformation and hybrid working.
“Our vision was technology, the way technologies converge and we had to have expanded expertise across multiple technology areas. AWS has been a critical part of us helping our customers with their digital transformation strategy and growing our cloud business,” says Cagnazzi. “It’s a nearly $1 billion business for us today between services and Amazon services. Some of the things we’ve been able to do for clients are things that we might not have traditionally done years ago.
“We were able to do a bunch of great deals since we’ve been private, obviously Arkphire being one of them,” Cagnazzi explains. “On paper they’re not accretive, but they’ve been wildly accretive practically speaking because we’ve been able to expand those services and those revenue streams so dramatically. Being a private company has been helpful in that regard. I mean, we have $6 billion in gross revenue today.“We are owned by private equity firms.
That caution appears to be paying off. Its most recent results showed solid growth across the first half of its financial year, with growth in both quarters. The last quarter is expected to be the same. When he is not behind a desk or on a plane, Cagnazzi spends his time with family, or on cars. Cars have always been important to him. He paid his way through college by ploughing snow in a 1968 Chevy short-bed 4x4. “That’s how I made my money,” he says.
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