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Ingram Micro completes Brightpoint deal
by Stuart Wilson, Tuesday 16 October 2012
Global distribution giant Ingram Micro has completed its US$650m acquisition of Brightpoint paying US$9 per share in cash for the mobility specialist. Ingram Micro claims that the deal creates a leading global provider of lifecycle services and solutions for the mobile industry. Ingram Micro also believes the deal will give it enhanced customer reach and deep relationships with key vendors, network operators and mobile virtual network operators in the rapidly growing mobile market.
Brightpoint services more than 25,000 business-to-business customers and over 100,000 points of sale across the globe, with operations spanning 27 countries and sales reach in more than 75 countries.
Together, Ingram Micro and Brightpoint posted combined fiscal 2011 sales of US$41 billion with operations in more than 30 countries. Ingram Micro expects to realise annual cost synergies and efficiencies in excess of US$55m by 2014.
"Today marks a significant milestone for Ingram Micro and Brightpoint, as well as for our collective associates, partners and customers," said Alain Monie, president and CEO of Ingram Micro. "Independently, each company is a respected industry leader. Together, we are a stronger global leader, with the capability to serve our customers and vendor partners with the most comprehensive suite of mobile products, services and solutions in the industry.”
“We believe this is an excellent time to significantly expand our mobile business and device lifecycle services, and together we will continue to meet the ever-growing technology and services requirements of our increasingly connected world. With a history of more than 20 years of innovation and leadership in the mobility industry, Brightpoint is a great technology company and an outstanding addition to Ingram Micro," he added.
Brightpoint, an Ingram Micro company, will initially be led by Shailendra Gupta, Ingram Micro’s senior executive VP and president for Asia-Pacific. Gupta, who successfully led the seven country integration of Ingram Micro’s acquisition of Tech Pacific in 2004 - the company’s largest acquisition prior to BrightPoint - will also head the BrightPoint integration efforts.
He will be assisted by a team of individuals from each organisation, including the following members of BrightPoint’s former senior management team who have taken similar senior leadership roles with Ingram Micro reporting to Gupta: Mark Howell, president Americas mobile; Bruce Thomlinson, president Asia-Pacific mobile; and Anurag Gupta, president EMEA mobile.
Vincent Donargo, formerly Brightpoint CFO, has assumed the role of executive VP global integration and will also report to Gupta. Bob Laikin, former chairman and CEO of Brightpoint, will serve in a senior advisory role to Monie.
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