Ingram Micro Continues Expansion into Middle East's High Growth IT Market through Acquisition of Largest Value-Added Technology Solutions Distributor in Saudi Arabia
Completes acquisition of the business from Arabian Applied Technology
DUBAI, United Arab Emirates, June 15, 2015 /PRNewswire/ -- Ingram Micro Inc. (NYSE: IM) today announced that it substantially completed the acquisition of the business assets of Arabian Applied Technology, the largest value-added technology distributor in Saudi Arabia. The business will operate as Aptec Saudi Arabia and is a part of Ingram Micro's META region (Middle East, Turkey & Africa) led by Dr. Ali Baghdadi, President of Ingram Micro in META. The Saudi Arabia operation is expected to contribute annual revenue of approximately $200 million and be modestly accretive to Ingram Micro's earnings in 2015.
Aptec Saudi Arabia will offer a robust enterprise solutions portfolio with products and solutions covering data center, storage, security, networking and software categories including technical services. Its staff has vast channel development experience in the SMB market, credit services, training and other professional offerings. Aptec Saudi Arabia will carry on the collaborative culture and long-lasting customer and vendor relationships under the experienced management team.
"The acquisition of the business of Arabian Applied Technology in Saudi Arabia, is another excellent addition to Ingram Micro's expanding presence in the rapidly growing and higher value Middle East market," said Alain Monié, Ingram Micro chief executive officer. "Aptec Saudi Arabia will continue the leading operations as a Value Added Distributor, and under Ingram Micro's leadership, the company will be able to provide an even greater breadth of services and solutions to its partners and customers to help them realize the promise of technology across multiple technology segments including Advanced Solutions, Mobility, Cloud, Professional Services, Training and Supply Chain."
About Ingram Micro Inc.
Ingram Micro helps businesses Realize the Promise of TechnologyTM. It delivers a full spectrum of global technology and supply chain services to businesses around the world. Deep expertise in technology solutions, mobility, cloud, and supply chain solutions enables its business partners to operate efficiently and successfully in the markets they serve. More at www.ingrammicro.com.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
The matters in this press release that are forward-looking statements, including statements relating to the expected benefits of the acquisition and the financial performance of the company, are based on current management expectations. Certain risks may cause such expectations to not be achieved and, in turn, may have a material adverse effect on Ingram Micro's business, financial condition and results of operations. Ingram Micro disclaims any duty to update any forward-looking statements.
Ingram Micro has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and seek to mitigate their impact on Ingram Micro's results of operations and financial condition. However, no assurances can be given that Ingram Micro will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning Ingram Micro, reference is made to Item 1A Risk Factors of Ingram Micro's Annual Report on Form 10-K for the fiscal year ended Jan. 3, 2015; other risks or uncertainties may be detailed from time to time in Ingram Micro's future SEC filings.
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SOURCE Ingram Micro Inc.
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