Ingram Micro, one of the largest cloud technology and supply chain companies in the world, will be acquired by investment company Platinum Equity for $7.2 billion. The company is currently owned by Chinese holding company HNA Technology Co.
A longtime player in the technology logistics space, California-based Ingram Micro was founded in 1979. It generated more than $47 billion in revenues in 2019, and has recently been focused on cloud and mobility solutions that support the technology lifecycle and supply chain. Ingram Micro has recently been working on supporting cloud services as well as global enterprise software and computing. It counts Acer, Apple, Cisco, Citrix, HP, IBM, Lenovo, Microsoft, Samsung, Symantec and VMware among its partners.
"We know Ingram Micro and the industry very well and have been investors in the technology and IT distribution and solutions sectors for more than a decade," said Jacob Kotzubei, partner at Platinum Equity. "We have been pursuing this opportunity for a while and have been impressed by the company's ability to thrive while continuing to navigate these fluid and challenging times. We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company's success."
Ingram Micro has more than 250,000 global customers and partners along with 35,000 employees based in 60 countries. Over the past few months the company has inked deals as a distributor for Jabra, NETGEAR and Fitbit, among others.
Platinum Equity plans to help the company aggressively grow and transform through the acquisition, which is slated to be complete next year. CEO Alain Monié will continue in his role, and the company will remain headquartered in Irvine, CA.
"Platinum's sector expertise, global operating capabilities and financial resources make it the ideal partner," said Monié. "Teaming with Platinum provides an opportunity to further strengthen our competitive advantage in the cloud, speed our digital transformation and accelerate the expansion of our solutions and services portfolio, particularly for high value markets."
He added that Ingram Micro will also focus on broadening its geographic reach while working to add new industries and vertical markets to its portfolio.
To provide more information about how the cloud, mobility and managed services are changing the global technology landscape, TMC is hosting its MSP Expo from June 22-25 at the Miami Beach Convention Center. The event will offer opportunities for MSPs and technology specialists to collaborate and learn about growing their networks and driving revenues.
Edited by
Maurice Nagle
