SANTA ANA, Calif., March 18, 2015 /PRNewswire/ -- Ingram Micro Inc.
(NYSE: IM) today announced that it is further expanding its reach
in the fast-growing and high-value Latin American market with the
acquisition of Tech Data's Peruvian and Chilean businesses. The
acquisition, which closed March
16th, is expected to add more than $270 million annually to Ingram Micro's revenue
and be slightly accretive to 2015 consolidated non-GAAP earnings
per diluted share.
The acquisition complements Ingram Micro's existing operations
in Peru and Chile and immediately delivers increased reach
and scale in the region, which has consistently been a top
performer for the company. In addition to delivering cost
synergies through merger and integration of the two businesses in
each country, the acquisition is expected to drive further strong
growth in Technology Solutions, while increasing penetration into
additional service opportunities in Mobility, Supply Chain
Solutions and Cloud.
"This acquisition is an excellent complement to our existing
operations in Latin America," said
Alain MoniƩ, Ingram Micro CEO. "Latin
America is consistently one of our top performing regions
and the addition of these businesses to our current operations in
Peru and Chile further reinforces to our customers and
vendors Ingram Micro's established position and commitment to
providing world class, supply-chain and technology services in
emerging markets."
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 within the meaning of the Private Securities Litigation
Reform Act, including statements relating to the expected benefits
from new wins and market share and our ability to enhance 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
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)
failure to retain and recruit key personnel would harm our ability
to meet key objectives; (5) we operate a global business that
exposes us to risks associated with conducting business in multiple
jurisdictions; (6) our failure to adequately adapt to industry
changes could negatively impact our future operating results; (7)
we continually experience intense competition across all markets
for our products and services; (8) 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;
(9) substantial defaults by our customers or the loss of
significant customers could negatively impact our business, results
of operations, financial condition or liquidity; (10) 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; (11) 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; (12) 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; (13) we cannot predict the
outcome of litigation matters and other contingencies that we may
be involved with from time to time; (14) We may become
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;
(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; (17) changes in
accounting rules could adversely affect our future operating
results; and (18) our quarterly results have fluctuated
significantly. There are additional contingencies
associated with each of the above identified risks. For
example, in connection with our acquisition strategy, we risk
failing to realize the anticipated benefits of an acquisition due
to, among other things, the unsuccessful integration of an acquired
business. 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. We also face a variety of risks associated with our
recently completed acquisition of new businesses in Chile and Peru, 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. 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.
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SOURCE Ingram Micro Inc.