Ingram Micro Finalizes $7.2B Acquisition By Platinum Equity
By MYBRANDBOOK
Ingram Micro has officially closed its $7.2 billion acquisition by private equity powerhouse Platinum Equity in a blockbuster deal that frees the distributor from financially troubled Chinese conglomerate HNA Group.
Platinum Equity Chairman and CEO Tom Gores said in a prepared statement that Platinum is “excited” to put its “resources and experience to work helping Ingram Micro navigate these especially fluid times.” He said corporate IT priorities are “shifting, ecommerce is thriving, and the pace of digitization continues to accelerate,” which makes Ingram’s technology products,services and adanced solutions “more important than ever.
The deal-which was anticipated to be finalized by the second quarter of 2021–took seven months to finish.
Ben Johnson, CEO of Liberty Expertise, a Griffin, Ga. resolution supplier, mentioned the IT business is below “growing stress” to steer the provision chain away from China within the wake of human rights points and questions concerning the origin of the Coronavirus. “I don’t assume the timing of this was coincidental” given the political state of affairs with China.
Ingram Micro CEO Alain Monie mentioned in a ready assertion Ingram is worked up to start its future with a “distinguished US based mostly accomplice with the need and substantial assets to speed up” it innovation and vendor and buyer providers. Ingram is continued growing and today, it has more than 35,000 employees, 170,000 customers, and partnerships with more than 2,000 vendors.
Platinum shares our vision for Ingram Micro and is dedicated to us continuing to develop and offer innovative solutions across the IT ecosystem, while providing a superior experience for our customer and vendor partners and a work environment where our associates can thrive,” said Monie.
Now Platinum arrives after HNA Group bought Ingram Micro for $6 billion 5 years back. HNA Group’s ties to the Chinese language authorities had been at all times a priority for Ingram Micro’s companions, regardless of reassurances that the corporate was “ring-fenced” from Beijing’s affect by U.S. treaties.
Another worry is on the growing battle for the leadership into distribution business across the globe. Ingram Micro is dominating the segment from nearly three decades and now the recent merger of Tech Data-Synnex which will become the world’s largest distributor will have combined revenue of $60 billion, coming in nearly $11 billion larger than Irvine, Calif.-based Ingram Micro, which had $49.1 billion in sales in fiscal year 2020.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
VEHERE INTERACTIVE PVT. LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
BHARAT ELECTRONICS LTD.
TVS ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
PARTNER SPEAKERS
PSU
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
