Ingram Micro Inc. confirmed today that it has completed its acquisition of Brightpoint, Inc. for $9.00 per share in cash.
BrightPoint, a mobile lifecycle solutions company, will give the distributor a global provider of device lifecycle services and solutions for the mobile industry.
Additionally, the combined company will now benefit from the industry’s broadest portfolio of products, services and solutions, as well as an expanded global geographic footprint and customer base.
The acquisition of BrightPoint supports Ingram Micro’s long-term growth strategy to expand the company’s business in high growth markets, while increasing its services and solutions capabilities. BrightPoint brings more than 25,000 B2B customers and over 100,000 points of sale across the globe, along with operations in 27 countries and sales in more than 75 countries around the world. The companies’ combined businesses, as of the end of each company’s 2011 fiscal year, had annual revenues of more than $41 billion, with operations in more than 30 countries. Ingram Micro expects to realize annual cost synergies and efficiencies in excess of $55 million by 2014, and the acquisition is expected to be accretive to earnings per share by 18 cents in 2013 and 35 cents in 2014, excluding one-time charges and integration costs.
Alain Monie, president and CEO of Ingram Micro, said this deal marks a significant milestone for Ingram Micro and BrightPoint, as well as for our collective associates, partners and customers. 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.
Monie believe this is an excellent time to significantly expand Ingram Micro’s mobile business and device lifecycle services.
