IRVINE, Calif., Oct. 13, 2015 /PRNewswire/ -- Ingram Micro Inc. (NYSE: IM) today announced that it has entered into a definitive agreement under which, subject to closing conditions detailed below, Ingram Micro will acquire DOCdata Nederland B.V. and DOCdata International B.V. ("Docdata"), the e-commerce fulfillment business of publically-traded, Netherlands-based, DOCDATA N.V. (ENXTAM: DOCD) for approximately $175 million. Docdata is one of the leading European providers of order fulfilment, returns logistics and online payment services, providing critical commerce solutions to major retailers, brands and promising start-ups. Docdata currently handles between 125,000 and 250,000 orders on a daily basis, with major operations in Germany, Netherlands and the United Kingdom. The company is expected to contribute in excess of $150 million in annual services revenue to Ingram Micro and to contribute 5 to 7 cents to 2016 non-GAAP earnings per share.
Docdata will operate as a wholly owned subsidiary of Ingram Micro. Docdata CEO Michiel Alting von Geusau will continue to lead the company, reporting directly to Ken Beyer, Ingram Micro executive vice president commerce and fulfillment solutions. In addition to customary regulatory and other closing conditions, the transaction requires approval of a majority of outstanding shares at a special meeting of DOCDATA N.V. shareholders, which is expected to take place toward the end of the 2015 fourth quarter.
Ingram Micro CEO Alain Monié commented, "Adding Docdata's broad-based suite of commerce solutions to our existing portfolio of global services will bring critical mass to our commerce and fulfillment solutions business in Europe. Docdata is a well-established e-commerce fulfillment company and is highly respected by brands and retailers for its ability to deliver a timely and cost-effective buyer experience. Docdata's solutions are an excellent complement to our existing commerce and fulfillment offerings, including our rapidly expanding Shipwire service delivery platform. This acquisition is fully aligned with our strategic objective to leverage Ingram Micro's broad geographic reach and world class vendor and customer relationships, and we expect to accelerate Docdata's ability to drive rapid expansion of its services offerings across the continent and beyond. The Ingram Micro team and I look forward to the opportunity to work closely with Michiel and his world-class team."
Alting von Geusau added, "We are excited to partner with Ingram Micro and believe this transaction delivers significant value to our shareholders. I strongly believe Ingram Micro is the best partner for our clients and employees going forward and I am excited at the prospect of Docdata becoming a part of such a globally recognized and respected company."
About Ingram Micro Commerce and Fulfillment Solutions A global business unit of Ingram Micro, Commerce and Fulfillment Solutions provides infrastructure to support the global growth of brands and retailers. With 122 distribution centers across 38 countries and the power of an award-winning SaaS technology, we provide order fulfillment, dropship and returns solutions with access to the unique growth opportunities of one of the world's leading technology solutions providers. More at www.ingrammicrocommerce.com
About Ingram Micro Inc. Ingram Micro helps businesses realize the promise of technology. 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 within the meaning of the Private Securities Litigation Reform Act, including statements relating to the expected benefits from new wins and market position and our ability to enhance revenues and earnings power, 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. Important risk factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, without limitation: (1) changes in macro-economic and geopolitical conditions can affect our business and results of operations; (2) our acquisition and investment strategies may not produce the expected benefits, which may adversely affect results of operations; (3) we are dependent on a variety of information systems, which, if not properly functioning, and available, or if we experience system security breaches, data protection breaches or other cyber-attacks, could adversely disrupt our business and harm our reputation and net sales; (4) the validity, subsistence and enforceability of the patent portfolio that we currently hold or acquire may be challenged, and we have a risk of being involved in intellectual property disputes that could cause us to incur substantial costs, divert the efforts of management or require us to pay substantial damages or licensing fees;(5) failure to retain and recruit key personnel would harm our ability to meet key objectives; (6) we operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions; (7) our failure to adequately adapt to industry changes could negatively impact our future operating results; (8) we continually experience intense competition across all markets for our products and services; (9) termination of a key supply or services agreement or a significant change in supplier terms or conditions of sale could negatively affect our operating margins, revenue or the level of capital required to fund our operations; (10) substantial defaults by our customers or the loss of significant customers could negatively impact our business, results of operations, financial condition or liquidity; (11) changes in, or interpretations of, tax rules and regulations, changes in the mix of our business amongst different tax jurisdictions, and deterioration of the performance of our business may adversely affect our effective income tax rates or operating margins and we may be required to pay additional taxes and/or tax assessments, as well as record valuation allowances relating to our deferred tax assets; (12) our goodwill and identifiable intangible assets could become impaired, which could reduce the value of our assets and reduce our net income in the year in which the write-off occurs; (13) changes in our credit rating or other market factors, such as adverse capital and credit market conditions or reductions in cash flow from operations may affect our ability to meet liquidity needs, reduce access to capital, and/or increase our costs of borrowing; (14) we cannot predict the outcome of litigation matters and other contingencies that we may be involved with from time to time; (15) Our failure to comply with the requirements of environmental regulations could adversely affect our business; (16) we face a variety of risks in our reliance on third-party service companies, including shipping companies, for the delivery of our products and outsourcing arrangements; (18) changes in accounting rules could adversely affect our future operating results; and (19) our quarterly results have fluctuated significantly and (20) the Docdata transaction may not be consummated for several reasons, including failure to receive approval by competent Competition authorities; technology platforms providing similar and/or improved functionalities and capabilities to Docdata may be launched, developed or otherwise repurposed that may significantly impair the competitiveness of our combined business and the value of our investment; and we may not realize the anticipated business synergies or earning accretion. Additionally, we risk failing to realize the anticipated benefits of an acquisition due to, among other things, the unsuccessful integration of the acquired business. We face a variety of risks associated with our ability to integrate Docdata into our existing systems and organization including: management's ability to execute its plans, strategies and objectives for future operations, including the execution of integration plans; customer demand in these regions; currency fluctuation; the potential for political unrest; potential regulatory constraints; and our ability to achieve the expected benefits and manage the costs of the transaction. Further, despite its global presence, Ingram Micro may fail to proactively identify and tap into emerging markets and geographies. We have historically instituted, and will continue to institute, changes to our strategies, operations and processes in an effort to address and mitigate risks; however, there are no assurances 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 our SEC filings, and specifically to Item 1A-Risk Factors, of our latest Annual Report on Form 10K.
SOURCE Ingram Micro Inc.